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Continuing its record-breaking spree, gold hits yet another new record high of Rs 24,289 per 10 grams today after the precious metal climbed to a record high in the global markets.
At the Multi Commodity Exchange, gold for delivery in most-active October shot up by Rs 224 or nearly 0.9 per cent to a new high of Rs 24,289 per 10 grams with a business turnover of 3,431 lots. It had closed 1.04 per cent higher in the previous session.
Similarly, the metal for delivery in August gained Rs 165 or 0.71 per cent to Rs 24,050 per 10 grams with a business turnover of 20 lots.
Analysts attributed the gains in gold futures to a firming trend overseas where the metal soared to a record high as investors sought an alternative to currencies and as debt concerns in the US and Europe spurred its demand for a protection of wealth.
In addition, a weaker rupee also supported the rise in dollar-denominated gold prices at the futures trade here.
Meanwhile, gold climbed to a new high of $1,684.70 an ounce in New York last evening.
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