Gold closing in on Rs 40,000 mark
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Gold prices scaled a new high on Monday, adding another Rs 675 to Rs 39,670 per 10 gram in Delhi mainly due to falling rupee and strong global trend.
Since August 20, gold prices have touched a fresh every day.
Spot gold in the international market was trading higher at $1,529 an ounce in New York.
In the national capital, gold of 99.9% and 99.5% purity rose Rs 675 each to Rs 39,670 and Rs 39,500 per 10 gram, respectively.
Sovereign gold jumped by Rs 700 to 29,500 per eight grams.
Besides healthy buying from jewellers, a weaker rupee and positive trend overseas were among the factors that resulted in a strong rally in gold prices, said analysts.
Further, silver also soared Rs 1,450 to Rs 46,550 per kg on fresh offtake by industrial units and coin makers.
Despite a strong bounce-back in the equity markets, the domestic currency continued its downward spiral and plummeted 58 paise to 72.25 against the dollar.
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