Scaling a new peak, gold price touched an all-time record of Rs 31,400/10 grams in the bullion market here on Monday, on strong cues from global markets.

Traders said gold registered gains for the seventh trading session in a row, rising by Rs 100, on sustained buying by stockists amid rally in overseas market. The investors were also seen shifting funds from melting equities to firming bullion, they added.

The metal has gained Rs 860 in last six trading sessions.

In global markets, gold rose to a four-month high on speculation that central banks from the US to China will act to spur economic growth and investment holdings in the metal climbed to record highs, supporting its rally here.

(This article was published on August 27, 2012)
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