Gold hits record high at Rs 30,388 per 10 gm

Positive cues from the overseas market pulled prices higher

Gold futures prices today hit a record high of Rs 30,388 per 10 gm as participants created speculative positions, taking positive cues from global markets.

At the MCX, gold for delivery in August rose by Rs 77, or 0.25%, to trade at an all-time high of Rs 30,388 per 10 gm in a business turnover of 1,012 lots.

Globally, gold prices rose by $2 to $1,628.70 in previous session in New York.

Market analysts said speculative positions built-up by participants, tracking firming trend overseas, helped gold to hit record high at futures trade here.