International gold price flirting with all-time high seen nine years ago

US-China friction has weakened the dollar index, while disappointing US Jobless claims data has also pushed gold prices higher

The price of gold reached an all-time high in both domestic and international spot markets on Wednesday. The yellow metal breached the $1,900-mark globally and was trading at $1,902.93 an ounce (until 8.34 pm IST) — nearly $3 more than the record closing of 1,900.2 nine years ago on September 5. Intraday, the metal went as high as $1,921 per ounce on September 6, 2011.

In Mumbai’s Zaveri Bazar, standard gold closed 0.8 per cent up at a new peak of Rs 50, 919 per 10 gram. Silver closed 1.5 per cent lower at Rs 59,885 a kg, but internationally, the