Gold prices skyrocketed by Rs 5,080 to hit an all-time high of Rs 1,12,750 per 10 grams in the national capital on Tuesday in line with strong global trends.
According to the All India Sarafa Association, gold of 99.9% purity had closed at Rs 1,07,670 per 10 grams on Monday.
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Silver prices also surged by Rs 2,800 to hit a record high of Rs 1,28,800 per kilogram (inclusive of all taxes) on Tuesday. The precious metal had settled at Rs 1,26,000 per kg in the previous market session.
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In global markets, gold hit an all-time of USD 3,659.27 per ounce on Tuesday. The precious metal later traded at USD 3,652.72 per ounce, up by USD 16.81, or 0.46%.
Traders said weak labour market data in the US last week has raised the likelihood of a monetary policy easing, which pushed investors towards safe-haven assets such as gold. The dollar's retreat further supported the upward momentum in bullion prices.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 97.29, went lower by 0.17%.
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