Gold price hits lifetime high of Rs 59,241 amid strong global trends

Spot gold was down 0.6 per cent at $1,976.60 per ounce, as of 6.48 pm India time, while U.S. gold futures rose 0.5 per cent to $1,983.20

Gold price rallied Rs 1,254 to touch a life-time high of Rs 59,241 per 10 gram (gm) on Monday amid strong global trends, acco­rding to data from the India Bullion Exchange. The precious metal, therefore, gai­ned 2.16 per cent after ending at Rs 57,987 per 10 gm at close after the previous trading session. 

Meanwhile, the gold futures breached the Rs 60,000-mark per 10 gm on the Multi Commodity Exchange (MCX) — after banking crises in the US and Europe triggered a return to haven buying — to reach Rs 60,455 per 10 gm before closing at Rs 59,516 per