Gold prices has forged to an all-time high of Rs 14,110 in early trade on the bullion market on Saturday on hectic stockists buying triggered by sharp rise in global markets.
Silver also advanced further on persistent industrial demand on the back of higher international advices.
Standard gold (99.5 purity), rallied by Rs. 345 per ten grams is to open at an all-time peak of Rs. 14,110 today from yesterdays closing level of Rs 13,765.
Earlier it touched a high of Rs. 14,105 on October, 2008. Pure gold (99.9 purity) also increased by Rs. 350 per ten grams to Rs. 14,170 from Rs. 13,820 yesterday. Silver ready (.999 fineness) rose by Rs. 425 per kilo to Rs 19,480 from Rs. 19,055.
The price of gold has increased to a three-month high, climbing past USD 900 an ounce in both New York and London for the first time since October, as global equity markets tumbled, boosting demand for a safe harbor.
Gold futures for February delivery climbed USD 37, or 4.3 per cent, to USD 895.80 an ounce on the Comex Division of the New York Mercantile Exchange, the biggest gain since December 10. Earlier, the price reached USD 903.80, the highest for a most-active contract since October 10. Silver futures for March delivery rose 57.5 cents to USD 11.94 an ounce.
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