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Gold prices advanced Rs 700 to reach a new lifetime high of Rs 91,950 per 10 grams in the national capital on the back of continued buying by jewellers ahead of wedding season, according to the All India Sarafa Association.
Besides, increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.
As reported by PTI The precious metal prices of 99.9 percent purity soared by Rs 700 to hit a fresh all-time high of Rs 91,950 per 10 grams.
It had concluded at Rs 91,250 per 10 grams on Tuesday.
Gold prices of 99.5 percent purity also rallied by Rs 700 to hit a record high of Rs 91,500 per 10 grams.
Traders said increased buying by local jewellers to meet festive and wedding season demand and a firm trend in the overseas markets mainly lifted gold prices to this year’s highest level.
Silver prices also surged by Rs 1,000 to hit a record peak of Rs 1,03,500 per kg from Tuesday’s closing level of Rs 1,02,500 per kg.
In futures trade, gold futures for April delivery rose by Rs 19 to Rs 88,745 per 10 grams.
In the morning trade, it climbed Rs 288 to breach the psychological level of Rs 89,000 per 10 grams.
