Gold prices broke all previous records on Tuesday,
crossing Rs 32,000 per 10 grams in futures trade, as speculators engaged in creating positions taking positive cues from global markets.
Besides, a firming trend in the spot markets on the back of buying activity
ahead of marriage and festive season mainly influenced the prices.
At the Multi Commodity Exchange,
gold for delivery in far-month February contract gained Rs 54, or 0.17 per cent, to trade at new high of Rs 32,096 per 10 grammes clocking a business volume of 49 lots. Gold for delivery in the October contract was also up by Rs 86 to Rs 31,369 per 10 grammes in a turnover of 11,951 lots.
In the domestic market, gold traded Rs 240 higher at an all-time high of Rs 31,850 per 10 grammes in the national Capital. Silver followed suit and gained Rs 1,200 to Rs 60,200 per kg.
Market analysts said that the rise in
gold prices at futures trade was attributed to speculative positions built-up by speculators driven by a firming trend overseas as global data strengthened the case for more stimulus to boost growth raising demand for the precious metal.
Meanwhile, the yellow metal gained 0.3 per cent to $1,697.20 an ounce, the highest level since March 13 in Singapore.
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