Gold prices today surged further by Rs. 430 to touch an all-time high of Rs. 26,680 per 10 grams in New Delhi, tracking firm trends in the global markets where adverse economic conditions boosted the metal's appeal as a protection of wealth.
The metal surpassed its previous record of Rs. 26,490 set on August 11.
Gold of 99.9 and 99.5 per cent purity shot up by Rs. 430 each to record levels of Rs. 26,680 and Rs. 26,560 per 10 grams, respectively. Sovereigns followed suit and rose by Rs. 300 to a new high of Rs. 21,100 per piece of eight grams.
Market experts said trading sentiment remained bullish as the yellow metal climbed 0.2 per cent to trade at $1,789.25 an ounce, nearing its all-time high of $1,814.95 an ounce, on concerns that Europe's sovereign debt crisis may escalate and hurt economic growth, fuelling demand for a haven.
Besides, pick-up in local buying for the coming marriage season and metal's rally in the futures market also boosted the trading sentiment. In line with firming trend, silver also advanced in the market.
Silver ready rose further by Rs. 500 to Rs. 60,700 per kg and weekly-based delivery advanced by Rs. 580 to Rs. 60,045 per kg. Silver coins gained Rs. 1,000 to Rs. 67,000 for buying and Rs. 68,000 for selling of 100 pieces.
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