Gold touches record high of Rs 31,468 in futures trade

Gold prices rose to all-time high of Rs 31,468 per 10 grams as speculators created huge positions, tracking a firming globaltrend.

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 per cent, 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 per cent, 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 per cent to USD 1,676.90 an ounce — the most expensive since April 13 — in Singapore.