Gold prices soar to historic high of Rs 66,778 per 10 gms
Prices of the precious metal rose by Rs 1,028 per over the previous day's closing which works out to a nearly 1.5 per cent increase.
Prices of the precious metal rose by Rs 1,028 per over the previous day's closing which works out to a nearly 1.5 per cent increase.
Gold prices increased to a seven-month high in the international market on Wednesday while in India gold prices were above Rs 62,500 per 10 gm for 24 carat gold.
On the festive occasion, the rate for 24 Carat gold in India has jumped to Rs 61,150 and Rs 56,050 for 22 Carat per 10 gram.
On Sunday, gold with 24k was trading at Rs 51,290 per 10 gm in the morning, an increase of Rs10 from yesterday's closing price.
Fresh positions built up by participants led to the rise in gold prices, analysts said.
Following gold’s footsteps, silver too rose by Rs 1,408 to Rs 49,483 per kg from Rs 48,075 per kg on Monday.
Indian markets have been gaining momentum and crossed the Rs 46,700 level per 10 gram in futures market earlier in the day.
The yellow metal for April delivery slumped Rs 208, or 0.52 per cent, to Rs 39,500 per 10 gram in 254 lots.
The yellow metal for April delivery dropped by Rs 178, or 0.45 per cent, to Rs 38,822 per 10 gram in 207 lots.
Indian rupee advanced 22 paise to 71.48 per US dollar as global markets stabilised after the US and Iran toned down their war rhetoric.