RTRS:Indian gold hits record high on global rally, weak rupee
Aug 27 (Reuters) - India's benchmark October gold contract extended gains on Monday morning to hit a record high of 31,077 rupees per 10 grams, following a rally in the world markets and on a weak rupee.
International spot gold rose to the loftiest level since mid-April on Monday, extending strong gains from last week as expectations for further monetary easing from the U.S. Federal Reserve kept sentiment buoyant.
However, a price rise is set to trim India's gold consumption, and subsequently imports, in the peak festive season.
For related stories on the world's biggest consumer of gold: (Reporting by Rajendra Jadhav; Editing by Jijo Jacob)
