Gold Price At Record High — Check Rates In Delhi, Mumbai, Chennai, Other Cities

Gold prices hit a fresh record with the price above the Rs 1,05,000 mark driven by escalating trade tensions on a global scale and the weak Rupee. The yellow metal was trading at a fresh record high of at Rs 1,05,140 per 10 gm, according to the India Bullions Association.

The prices had soared higher on the back of trade uncertainty, on the global front. Further, domestically the weakening of the local currency to its record low has fuelled safe haven demand of the yellow metal.

Over the past year, the highest price that the yellow metal had soared to was Rs 1,03,910, seen on Aug. 31, before the prices settled higher today. The price of the commodity went as low as Rs 74,240 on Nov. 15.

In New Delhi, the price stood at Rs 1,04,770 per 10 gm and in Mumbai it stood at Rs 1,04,950 on Tuesday.

In Bengaluru, the rate stood at Rs 1,05,040, while in Kolkata, it was Rs 1,04,810 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 1,05,260 per 10 gm.

The spot gold price was trading higher at $3,492 an ounce, according to the World Gold Council. Oct. 3 futures for the yellow metal were trading 0.02% higher at Rs 1,04,810, according to the Multi Commodity Exchange.

The precious metal's price was at Rs 1,24,490 per kilogram on the India Bullion Association. This compares to Rs 1,21,460 on Monday.

Sept. 5 futures for silver were trading 0.05% higher at Rs 1,24,725, according to the Multi Commodity Exchange.