Gold Prices Hit Yet Another Peak At Rs 30,420


NEW DELHI – Gold prices touched all-time high of Rs 30,420 per 10 grams in the bullion market here on Wednesday on the back of rising demand for the wedding season amid strong cues from the global markets.

Gold spurted by Rs 270 to surpass its previous record of Rs 30,400 set on June 6. Silver prices also rose by Rs 600 to Rs 55,600 per kg on increased off take by industrial units and coins makers.

Traders said the market sentiment firmed up on heavy purchases by jewellers and stockists for the marriage season beginning at the end of this week. The uptrend was further supported by a firming global trend as weakening dollar boosted the demand for bullion as an alternative investment.

In London, gold gained 0.2 per cent to USD 1,613.29 an ounce. Back home, gold of 99.9 and 99.5 per cent purity rose by Rs 270 each to record high of Rs 30,420 and Rs 30,220 per 10 grams, respectively.

Sovereign followed suit and rose by Rs 100 to Rs 24,300 per piece of eight grams. Silver ready jumped up by Rs 600 to Rs 55,600 per kg and weekly-based delivery by Rs 550 to Rs 55,170 per kg.

Silver coins spurted by Rs 1000 to Rs 65,000 for buying and Rs 66,000 for selling of 100 pieces.