Gold hits 14-month high at Rs 30,560 per 10 gms on dollar's depreciation

Gold jumped by 0.6 per cent at Zaveri Bazaar here to the highest in 14 months, following a global move where depreciation in the dollar prompted consumers to diversify their portfolio from overvalued equity markets.

Standard gold rose to trade at Rs  30,560 per 10g here in the early session on Thursday, before profit booking it down to Rs  30,445 per 10g at the end of the day. It recorded a gain of Rs 170 from its previous close of Rs 30,275 per 10g.

The dollar index has fallen over 10 per cent over the past quarter on a growing US economy.