Gold prices rose by 0.11 per cent to hit new high of Rs 19,372 per 10 grams in futures trading today as speculators engaged in expanding their positions, tracking a firm trend overseas.
Analysts said dollar weakness overseas raised gold's appeal as an alternative investment, helping the precious metal's rise in futures trading here.
A firming trend in the spot markets on the back of festive and marriage season demand was another factor behind the rally in gold futures.
At the Multi Commodity Exchange counter, gold for far-month February delivery was being traded Rs 19, or 0.11 per cent, higher at the record level of Rs 19,372 per 10 grams. The contracts registered a moderate volume of two lots.
Similarly, the metal for December delivery also edged higher by Rs 32, or 0.17 per cent, to Rs 19,295 per 10 grams in a turnover of one lot, while October delivery contracts were up by Rs 26, or 0.14 per cent, at Rs 19,197 per 10 grams with a turnover of four lots.
Gold rose by $3.20 to $1,278.70 per ten grams in the Asian region.
Meanwhile, spot gold prices in the Chennai bullion market rose by Rs 20 to Rs 19,235 per 10 grams in opening trade.
