India's gold futures hit their all-time high on Friday tracking strong global markets and support from a weak rupee. The gold price is likely to hit record highs in dollar terms as fears grow about the stability of the US currency.
MCX Gold April expiry opened in green and spooked higher. The contract is at Rs 14198 per 10 grams up Rs 89. Resistances for the contract are at 14450 levels. Supports are at 14110. COMEX Gold was trading at $ 925.30 an ounce, up $18.80 when last seen.
The surprising part of this rally in domestic and international markets is the fact that Dollar has shown constant up gradation against Euro and other major currencies. Dollar is now trading at 1.2853 up 104 pips. Dollar was at 1.2953 at the time of close on Thursday.
