Gold breaches record Rs 91,000 level
Powered by sustained buying by stockists and retailers amid a strong trend overseas, gold continued to glitter with the prices soaring by Rs 500 to hit another record high of Rs 91,250 per 10 grams in New Delhi on Tuesday.
However, silver prices on Tuesday traded flat at Rs 1,02,500 per kg, which was also a historic high touched on Monday.
The All India Sarafa Association bulletin said the yellow metal of 99.9 per cent purity had climbed Rs 1,300 to hit a fresh peak of Rs 90,750 per 10 grams on Monday.
Gold of 99.5 per cent purity soared by Rs 450 to hit a lifetime high of Rs 90,800 per 10 grams against the previous close of Rs 90,350 per 10 grams.
Saumil Gandhi, senior analyst of commodities at HDFC Securities, said, “Gold extended gains on Tuesday and touched a fresh record high in the international market as well as the domestic market. The precious metal remains an attractive option for safe-haven flows due to uncertainties surrounding US President Donald Trump’s policies, fears of a US recession, and geopolitical uncertainty.”
