Gold futures hit record high Rs 19,833 on global cues

Continuing on its record-setting spree, gold gained another Rs 133 to yet another high of Rs 19,833 per ten grams in futures trade today after the precious metal soared to an all-time high overseas.

Yesterday, gold futures prices spurted by Rs 178 to Rs 19,624 per ten grams on frantic buying by speculators, spurred by a rally in international markets.

All three running contracts -- April, June and December -- were trading at record highs.

Gold climbed to a new high of $1,345.10 an ounce in overseas markets today, riding on US dollar weakness and expectations that the US Federal Reserve will take measures to support the world's largest economy. 

Rising demand for gold in domestic markets ahead of the festive and marriage season next week further supported prices of the precious metal in futures trade here.

At the Multi Commodity Exchange counter, gold for June contract delivery shot up by Rs 133 to an all-time high of Rs 19,833 per ten grams, with a turnover of one lot.

In a similar fashion, gold for April delivery jumped by Rs 25 to Rs 19,745 per ten grams, with a turnover of 34 lots, while December contracts shot up by Rs 35 to their highest ever-level of Rs 19,548 per ten grams, clocking a turnover of 1,019 lots.