Gold futures in India soared to a new record high of Rs 79,535 per 10 grams on Wednesday, climbing by Rs 300 or 0.38% as the festive season drives demand. Silver, meanwhile, opened at Rs 98,431 per kilogram, slightly down by 0.3% or Rs 300. The Multi Commodity Exchange (MCX) had previously recorded a high of Rs 79,281 per 10 grams for gold in Tuesday’s session, coinciding with Dhanteras, a day celebrated for the purchase of precious metals.
Gold prices also reached their all-time high in the world market in the face of higher demand influenced by uncertainties that are many in the market. The close competition witnessed in the presidential race in the U.S. and the eventual impact on the market have increased demand for safe-haven assets such as gold, while Bitcoin neared an all-time high with investors weighing the possibility of a Republican victory in the U.S.
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Source: ET
News Desk
