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