Gold glitters at Rs 78K

Gold prices on Thursday jumped by Rs 400 to breach a record Rs 78,000 per 10 gm level in the national capital on sustained buying by jewellers as well as strong trends in global markets. Maintaining its record-breaking run for the second day, gold spurted by Rs 400 to a fresh lifetime high of Rs 78,250 per 10 gm, according to the All India Sarafa Association. The precious metal had closed at Rs 77,850 per 10 gm on Wednesday.

Silver also soared by Rs 1,000 to Rs 94,000 per kg on robust demand from industrial units and coin makers amid strong overseas trend. The metal had finished at Rs 93,000 per kg in the previous session.

In addition, gold of 99.5 per cent purity also hit a fresh high of Rs 77,900 per 10 gm. On Wednesday, the yellow metal had ended at Rs 77,500 per 10 gm. Traders said a rise in local demand, coupled with robust global trend, supported gold prices.

Meanwhile, in the futures trade, gold contracts for October delivery rose Rs 162 or 0.22 per cent to trade at Rs 75,475 per 10 gm on the Multi Commodity Exchange (MCX).

Silver contracts for December delivery surged Rs 1,034 or 1.12 per cent to Rs 93,079 per kg on the bourse.

On the other hand, COMEX gold rose 0.61 per cent to $2,701.20 per ounce in the international markets.