Buoyed by a firming global trend, gold prices surpassed all the previous records to trade at a fresh record high of Rs 32,400 per 10 gram at the futures trade today.

A firming trend in the spot market supported by upcoming wedding and festive season demand also helped gold futures to touch new highs.

At the Multi Commodity Exchange, gold for delivery in December shot up by Rs 125 or 0.36 per cent to trade at an all-time high of Rs 32,400 per 10 gram with a turnover of 176 lots.

Similarly, gold for October delivery gained Rs 119 or 0.37 per cent to trade at Rs 32,015 per 10 grams with a business volume of 1,682 lots.

In the domestic spot market on Saturday, the yellow metal had gained Rs 540 to close at an all-time high of Rs 32,450 per 10 grams in the national capital.

Marketmen said the rally in gold futures was mostly driven by a firming trend overseas on speculation that central banks from the US to China will increase stimulus as economic data disappoints, raising demand for the precious metal.

Meanwhile, gold gained 0.3 per cent to $1,740.05 an ounce in Singapore, almost six-month high level.

(This article was published on September 10, 2012)
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