Gold breached its all previous records to set the new high on Tuesday following a global trend and a drastic decline in the rupee against the dollar.
Gold for near month delivery surpassed its previous record of Rs 32,464 per 10 grams set on November 26, 2012 to trade at Rs 32,580 per 10 grams (October 2013 delivery) in early afternoon trade. The yellow metal recorded a gain of 2.21% from its previous close.
For December delivery, however, gold today moved up by 2.16% to Rs 32,525 per 10 grams.
Gold sustained high prices in India due to a drastic decline in the rupee. The rupee breached yet another record on Tuesday to trade at 65.75 against the dollar. The Indian currency moved up by over 22% so far this year.
