Gold hits another all-time high on global cues

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Gold prices hardened further to hit another life-time high at the bullion market here on Tuesday on consistent speculative off-take from investors and stockists following a rally in international markets.

Silver also tracked the yellow metal and spurted on heavy demand on the back of good industrial buying.

Standard gold (99.5 purity) rose by Rs 195 to end at Rs 30,295 per 10 grams from Monday's closing level of Rs 30,100.

Pure gold (99.9 purity) surged by Rs 205 to close at Rs 30,445 per 10 gm from Rs 30,240 yesterday. Silver ready (.999 fineness) climbed up by Rs 470 per kg to end at Rs 55,530 as compared to Rs 55,060 previously.

"Traders are taking positions on the basis of overseas market, where gold has charmed it way to safe-haven appeal. All eyes now are on the outcome of US Federal Reserve's policy meeting," dealers said.

In Europe, gold rallied for an eighth consecutive session hoping of further stimulus in the backdrop of the US Fed meeting as well as safe haven buying. Spot gold was bid up at $1,630.55 an ounce in early trade.