Gold jumps Rs 400 to hit a fresh record high of Rs 85,300/10 grams

New Delhi: Gold prices jumped Rs 400 to hit a fresh record high of Rs 85,300 per 10 grams in the national capital on Monday on the back of continued demand by jewellers and stockists, according to the All India Sarafa Association.

Traders said sharp depreciation in rupee and firm trends in the international markets lifted gold rates to record high levels.

The precious metal of 99.9 per cent purity had settled at Rs 84,900 per 10 grams on Saturday. Gold of 99.5 per cent purity rose for the fourth straight session by climbing Rs 400 to hit another record high of Rs 84,900 per 10 grams.

The yellow metal ended at Rs 84,500 per 10 grams in the previous trading session.

Rallying for the fifth consecutive session, silver increased Rs 300 to Rs 96,000 per kg on Monday. The white metal finished at Rs 95,700 per kg in the previous market close.

In futures trade on the MCX, gold contracts for April delivery increased Rs 461, or 0.56 per cent, to Rs 82,765 per 10 grams.Silver futures for March delivery appreciated Rs 436, or 0.47 per cent, to Rs 93,650 per kg.

Globally, Comex gold futures fell $7.50 per ounce, or 0.26 per cent, to $2,827.50 per ounce. On Friday, gold futures for April hit an all-time high of $2,862.90 per ounce in the international market.

Comex silver futures in the Asian market hours traded 0.50 per cent lower at $32.10 per ounce.