According to the Indian Bullion Association, the price of gold in the national capital on Monday rose by Rs 200 to an all-time high of Rs 78,700 per 10 grams after continuous buying by stockists and traders. However, gold prices declined globally. On Friday, the yellow metal closed at Rs 78,500 per 10 grams.
Silver jumped by Rs 500 to Rs 93,500 per kg due to fresh industrial demand. In the previous session, silver closed at Rs 93,000 per kg. Apart from this, gold of 99.5 percent purity rose by Rs 600 to its all-time high of Rs 78,300 per 10 grams.
In the previous session, this metal closed at Rs 78,100 per 10 grams. Earlier on October 7, the price of gold had reached a record high of Rs 78,700 per 10 grams. Traders said that despite the weak trend abroad, the prices of precious metals rose in the domestic market. The main reason for this is the increase in demand from jewelers.
In futures trading on the Multi Commodity Exchange (MCX), the price of gold contract for December delivery fell by Rs 207 or 0.27 percent to Rs 76,100 per 10 grams. The futures price of silver for December delivery on MCX fell by Rs 929 or 1.01 percent to Rs 90,761 per kg.
