Gold futures prices today climbed to an all-time high of Rs 30,247 per 10 grams, as speculators engaged in creating positions, driven by ongoing wedding season demand amid a firming global trend.
Sentiment turned better as demand for gold picked up in spot markets for the wedding season, and a firming trend overseas on speculation that lower borrowing costs and Europe's debt crisis will spur demand for a protection of wealth.
The gold rising to record levels in domestic markets also influenced trading activity in futures trade.
"Strong physical demand for precious metal due to ongoing wedding season, weakening rupee and firming trend overseas, lifted gold prices to record highs in futures as well as spot markets", said an analyst.
At the Multi Commodity Exchange, the December contrtact rose by Rs 64, or 0.21%, to trade at record high of Rs 30,247 per 10 grams, with a business turnover of 6 lots.
The metal for delivery in June gained Rs 36, or 0.12%, to Rs 29,145 per 10 grams, with a trade turnover of 5,431 lots.
Meanwhile, gold rose by 0.10% to $1,665.23 an ounce in London.