Gold jumps 2% to hit a new lifetime high, silver futures up over 5%

Appreciating rupee restricts jump, global monetary easing to support gold further

The price of gold jumped 2.14 per cent to reach a record high on Tuesday on the expectations of further monetary easing by developed countries to prevent their economies from going into recession. This is supporting the yellow metal’s safe-haven appeal amid falling interest rates, and thereby returns from other asset classes.

Standard gold in the popular Zaveri Bazaar here surged Rs 940 to trade at Rs 44,700 per 10g, as against Rs 43760 on Monday. Gold futures for delivery in June jumped 2.82 per