Gold Price At New High - Check Rates In Delhi, Mumbai, Chennai And Other Cities

Gold prices crossed its previous high of Rs 1,02,090 to settle over Rs 1,000 higher. The yellow metal was trading at a fresh record high of at Rs 1,03,910 per 10 gm, according to the India Bullions Association.

The prices had soared higher on the back of global cues and uncertainty. Further, due to the volatility in the commodities market, there was a sharp jump in commodity exchange volumes.

Gold futures also hit a fresh record high on Friday. Overall volumes comes from commodity options segment as volatility increased, according to market and commodities expert, Anuj Gupta.

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

In New Delhi, the price stood at Rs 1,03,730 per 10 gm and in Mumbai it stood at Rs 1,03,910 on Monday.

In Bengaluru, the rate stood at Rs 1,04,000, while in Kolkata, it was Rs 1,03,780 per 10 gm. The price of the precious commodity was the highest in Chennai, trading at Rs 1,04,220 per 10 gm.

The spot gold price was trading higher at $3,450 an ounce, according to the World Gold Council. Oct. 3 futures for the yellow metal were trading 0.04% lower at Rs 1,03,780, according to the Multi Commodity Exchange.

The precious metal's price was at Rs 121,460 per kilogram on the India Bullion Association. This compares to Rs 1,17,710 on Friday.

Sept. 5 futures for silver were trading 0.14% lower at Rs 1,21,702, according to the Multi Commodity Exchange.