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NEW DELHI: Breaking previous records, gold on Wednesday surged to an all-time high of Rs 13,850 per ten grams in the bullion market, as investors scrambled to hedge risks from the equities market. Besides a rush of investors moving away from the stock m arkets, buying for festival and marriage season too pushed up demand for the precious metal, which rose by Rs 450 per ten grams to close at this record level. The previous high of Rs 13,650 per ten gram was recorded on July 15. The metal has gained Rs 970 per ten grams in the last two trading sessions.

In the domestic market, standard gold and ornaments shot up by Rs 450 each to Rs 13,850 and Rs 13,700 per ten gram respectively. Sovereign also rose by Rs 200 to a peak of Rs 10,800. Silver ready rose by Rs 500 to Rs 19,600 per kg and weekly-based deliv ery by Rs 560 to Rs 19,860 per kg. Silver coins spurted by Rs 300 to Rs 28,500 for buying and Rs 28,600 for selling for 100 pieces. In London, gold rose $15.43 to $902.53 an ounce, exceeding $900 for the first time this month. – PTI

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