Gold prices Tuesday hit a record high of Rs.32,585 per 10 grams at the domestic bullion market as frenzied stockists and investors bought up the precious metal amidst supply constraints as no imports have taken place since July when the government hiked duty.
Rupee depreciation to a record low with a supply crunch have led to gold price spiralling to a new high.
The partially-convertible rupee slumped to a new record low of 66.25 Tuesday against the dollar at the inter-bank foreign exchange market in Mumbai, surpassing the previous record low of 65.56 recorded Aug 22.
