MUMBAI: Gold prices continued to rule firm for the fifth trading session in the domestic market on Wednesday on sustained safe-haven buying due to fall in equity prices.
In Mumbai, standard gold scaled Rs 12,000 per 10 gm to touch Rs 12,015. Pure gold too rose by Rs 40 to finish the business at Rs 12,080 per 10 gm.
Marketmen said sustained buying by jewellery makers and retailers in the wake of ongoing marriage season and weak equity market pushed up yellow metal prices to some extent.
In international markets, gold gained more than 3% to its highest level in more than a week on Wednesday, as the euro surged to a session peak against the dollar and oil prices recovered from a 22-month low.
In London, spot gold rose to $762.30 an ounce — its highest level since November 10 — and was last seen at $759.85 an ounce and that compared with $736.35 an ounce in New York late on Tuesday.
