August 27, 2012 / 17:20 IST
Gold prices rose to all-time high of Rs 31,468 per 10 grams as speculators created huge positions, tracking a firming global trend.
Sentiment bolstered after gold jumped to four-month high in overseas markets on speculation that central banks from the US to China will act to spur economic growth and as investment holdings expanded to a record.At the Multi Commodity Exchange, gold for delivery in December rose by Rs 153, or 0.42%, to record high of Rs 31,468 per 10 grams, with a business turnover of 377 lots.Likewise, the yellow metal for delivery in October moved up by Rs 144, or 0.39%, to Rs 31,091 per 10 grams in 377 lots.Marketmen attributed the rise in gold futures to a firming global trend.Meanwhile, gold rose 0.4% to USD 1,676.90 an ounce -- the most expensive since April 13 -- in Singapore. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
