Gold Hits Record High — Check Prices In Mumbai, Bengaluru, Delhi, Chennai And More

Gold price in India was at Rs 89,330 per 10 grams as of 10:20 a.m. on April 1, according to the India Bullion Association.

Rates in New Delhi stood at Rs 89,020 per 10 grams, according to the association. The price in Mumbai was higher at Rs 89,170. In Kolkata, the rate stood lower at Rs 89,050. While in Bengaluru, the rate was at 89,240. With the price at Rs 89,430, Chennai continued to see the highest rate in the country.

The futures prices for the yellow metal on Multi Commodity Exchange are hovering near highs, as the price stands as Rs 91,317 for the June. 5 futures.

Gold prices had advanced to reach a new record high of Rs 91,950 in Delhi earlier this month, with continued buying by jewellers ahead of wedding season. The rise is also on the back of increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.

Global spot gold prices were at a record high at $3,137, according to the World Gold Council. Price of the yellow metal crossed $3,000 an ounce for the first time ever on March 14, driven higher by a central bank buying spree and economic fragility worldwide.

Bullion gained as much as 0.9% to top $3,115 an ounce, beating the previous all-time high set on Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand amid a risk-off mood for markets, according to Bloomberg.

Silver price stood at Rs 1,01,120 as of 10:20 a.m., according to the India Bullion Association. Strong industrial demand for silver, fueled by its importance in renewable energy technologies and electronics, has been driving the surge.