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Gold price hits record high of Rs 32,677; zooms by Rs 800

Gold price hits record high of Rs 32,677; zooms by Rs 800

New Delhi: Gold price hit its all-time high of Rs 32,677 per 10 grams Tuesday on sustained buying as rupee plunged to its new record low of 65.93 against the US dollar.

At the Multi Commodity Exchange (MCX), gold for delivery in October gained further by Rs 801 to Rs 32,677 per ten grams as against its previous close of Rs 31,876.

Similarly, silver for delivery in September spurted by Rs 1,488 to Rs 55,275 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, held above USD 1,400 an ounce today, hovering near its highest in 11 weeks, supported by weak US data that traders hoped could stymie the US Federal Reserve’s plan to taper its stimulus measures this year.

Spot gold last traded down USD 5.10 or 0.36 percent at USD 1,400.90 per ounce.

In New York, gold for December delivery rose by USD 2 or 0.2 percent to settle at USD 1,393.10 an ounce after briefly pushing past USD 1,400 on the Comex division of the NYMEX yesterday.

 

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