Gold trades near all-time high on escalating cross-border tension

In Mumbai's Zaveri Bazar, standard gold closed at Rs 33,365 per 10 gram, a price higher than previous close of Rs 33,265, seen in November 2013

The price of gold is trading near its all-time high on account of tension after terror attacks in India and Iran.

In the international market, gold is trading at $1,324 per ounce (for gold, one ounce is 31.1 gm). However, in Mumbai’s Zaveri Bazar, standard gold closed at Rs 33,365 per 10 gm, a price higher than the previous close of Rs 33,265 seen in November 2013.

During intra-day trading, however, in last January gold traded at a higher price. At a high price, demand is minimum and that was reflected in import figures.

In January, gold import was only