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Commodity Market: Gold prices touch record high

Mumbai: Price of gold touched record high today. Price of sovereign gold crossed Rs 43,000 mark. Sovereign gold is trading at Rs 43040, higher by Rs 200 per 8 gram.

On Multi Commodity Exchange (MCX), gold futures were trading at Rs 58,239 per 10 gram, up Rs 233 or 0.40%. Silver futures were trading higher by Rs 823 at Rs 67,356 per kg .

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Globally, the yellow metal prices rose on Friday, buoyed by a weaker US dollar. Gold price were poised for their biggest weekly gain since mid-November. As per market experts, the  global banking crisis influenced  investors and investors are  flocking to the safe-haven metal. Spot gold was up 0.5% at $1,928.08 per ounce. U.S. gold futures rose 0.5% to $1,932.10. Bullion prices have risen about 3.2% so far in the week, heading for a third consecutive weekly gain.



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