Gold futures at record high on firm global cues

Gold prices rose by 0.20% to hit yet another high of Rs 22,047 per 10 grams in futures trade today tracking global market, where the precious metal climbed to an all-time high of $1,437.20 an ounce.

All the four running contracts were trading at their record highs.

At the Multi Commodity Exchange, gold for delivery in October rose by Rs 43, or 0.20%, to a new high of Rs 22,047 per 10 grams, with a business turnover of 11 lots.

Likewise, the metal for delivery in August gained Rs 47, or 0.21%, to Rs 21,759 per 10 grams, with a business volume of 14 lots.

The yellow metal for delivery in June rose by Rs 39, or 0.19%, to Rs 21,470 per 10 gram, with an open interest of 94 lots.

Similarly, gold prices for delivery in April inched up by Rs 38, or 0.15%, to Rs 21,190 per 10 gram, clocking a business turnover of 2,130 lots.

Analysts said firming global trend, where gold climbed to a record high of $1,437.20 dollar an ounce on unrest in Libya, boosted the demand for the precious metal as an alternative investment.

Firming trend in the domestic market on the back of increased demand due to the ongoing marriage season, too, influenced the prices, they added.