Gold prices continued their rising streak in futures trade on Wednesday, climbing to
cross 34,000-level for the first time ever, as the rupee tumbled to
breach the 68-mark against the US dollar.
Market analysts attributed rise to a sliding rupee which tumbled to a historic low of Rs 68.75, making dollar-quoted precious metal expensive, and pick-up in demand at the spot market for the festive and upcoming marriage season.
Besides, a firming trend in global markets as speculation that the US may lead military strikes against Syria spurred investors demand for a safe haven, too influenced gold prices at futures trade.
Gold advanced 0.3 per cent to $1,419.55 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in October went up by Rs 531, or 1.57 per cent to trade at an all-time high of Rs 34,246 per 10 gram in a business turnover of 1,624 lots.
Similarly, the yellow metal for delivery in the far-month December surged by Rs 511, or 1.52 per cent, to Rs 34,161 per 10 gm in 505 lots.
With inputs from PTI 
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