New Delhi, Feb 18 (PTI) In a three-day record-setting spree, the price of gold bettered its yesterday's level to reach Rs 15,750 per ten gram in the national capital today as concerns over the global economy saw investors seeking a safe haven for assets.
After a steep fall in stocks, forex and other financial markets, the all-weather investment option gold zoomed in domestic markets, while the metal reached a seven-month high overseas.
The precious metal resumed its upward march following similar firming trends in futures trade here, trading at an all-time highest level of Rs 15,606 per ten gram on the Multi-Commodity Exchange of India, on cues from the US markets last night, when it touched 975 dollars an ounce.
Gold in Delhi, which shot up by Rs 595 in the past two trading sessions, spurted further by Rs 330 at Rs 15,750 per ten gram, a level never seen before.
The steep rise in prices, however, brought gloom to retail buyers, particularly so because this is a wedding season. A retail jeweller in Delhi said many prospective customers were postponing buying as they are unable to grapple with the rise in prices never seen before. PTI
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