NEW DELHI: Buoyed by a firming trend in the overseas markets, gold futures prices today climbed to a fresh high of Rs 30,720 per 10 grams as speculators enlarged their positions.
Rising spot demand in domestic markets for the wedding season and a weakening rupee also lifted gold futures prices.
At the Multi Commodity Exchange, gold for delivery in far-month October rose by Rs 113, or 0.33 per cent, to trade at an all-time high of Rs 30,720 per 10 grams in a business turnover of 701 lots.
Similarly, gold prices for delivery in August also gained Rs 117, or 0.32 per cent, to trade at record high of Rs 30,428 per 10 grams, in a trade turnover of 12,796 lots.
Globally, gold prices rose by 0.3 per cent to $1,633.60 an ounce in Singapore.
Market analysts said sentiment bolstered after gold firmed overseas on widening euro-zone debt crisis and speculation the Federal Reserve will act to spur growth, weakened dollar and boosted demand for the metal as an alternate investment, helped gold to hit record high at futures trade here.
Besides, rising demand for the ongoing wedding season and weakening Indian rupee against the American currency also made the dollar-priced metals costlier, they said.
Meanwhile, the rupee was trading 12 paise lower at 56.05 against the US dollar at the forex market.
Rising spot demand in domestic markets for the wedding season and a weakening rupee also lifted gold futures prices.
At the Multi Commodity Exchange, gold for delivery in far-month October rose by Rs 113, or 0.33 per cent, to trade at an all-time high of Rs 30,720 per 10 grams in a business turnover of 701 lots.
Similarly, gold prices for delivery in August also gained Rs 117, or 0.32 per cent, to trade at record high of Rs 30,428 per 10 grams, in a trade turnover of 12,796 lots.
Globally, gold prices rose by 0.3 per cent to $1,633.60 an ounce in Singapore.
Market analysts said sentiment bolstered after gold firmed overseas on widening euro-zone debt crisis and speculation the Federal Reserve will act to spur growth, weakened dollar and boosted demand for the metal as an alternate investment, helped gold to hit record high at futures trade here.
Besides, rising demand for the ongoing wedding season and weakening Indian rupee against the American currency also made the dollar-priced metals costlier, they said.
Meanwhile, the rupee was trading 12 paise lower at 56.05 against the US dollar at the forex market.
