Gold prices surge 2% in domestic markets to new high on global cues

Gold prices jumped 2 per cent in the domestic markets to a new high, on Friday, following global cues. This led to domestic consumers staying away from fresh purchases, with even scheme- and exchange-related customers deferring transactions to avoid high making charges.

Standard gold in Mumbai’s Zaveri bazaar rose to Rs 42,400 per 10gm in spot trade. While most retail shops in Zaveri bazaar were shut for Mahashivratri on Friday, the ones that were open did not witness any footfall.
 

“There is no business, perhaps because of the sudden spike in gold prices. Even monthly deposit scheme and exchange-related customers