New Delhi: Gold prices skyrocketed by Rs9,700 to scale a fresh peak of Rs1,30,300 per 10 grams in the national capital on Monday, lifted by safe-haven buying in the overseas markets and depreciation in the Indian rupee. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity had closed at Rs1,20,600 per 10 grams on Friday.

In the local bullion market, gold of 99.5 per cent purity jumped by Rs2,700 to hit a record high of Rs1,22,700 per 10 grams (inclusive of all taxes) on Monday. It had settled at Rs1,20,000 per 10 grams in the previous market session. Traders said the fall in the rupee against the US dollar added to the rally of the precious metal.

“Gold reached a new record high on Monday as investors still prefer bullion despite this record high price.

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