Domestic gold prices hit a fresh all-time high on Tuesday, tracking gains in overseas markets and a depreciation in the rupee currency. However, the surge dampened demand in the world's second-biggest consumer of the precious metal, dealers said.
On MCX, gold prices touched a life-time high of Rs 57,099 per 10 grams after witnessing a hike of around 0.5 percent on Tuesday. Around 11:30 am, prices were hovering at 57,055 per 10 grams. Meanwhile, Silver rates increased by Rs 376 to Rs 68340 per kg on Tuesday.
Globally, Spot gold rose 0.2 percent to $1,935.69 per ounce, as of 0208 GMT.
The dollar index dipped 0.2 percent. A weaker greenback makes dollar-priced bullion more affordable for many buyers. On Tuesday, the US Dollar Index Futures was 0.2 percent down at 101.660.
With this, the rupee fell by 11 paise vs dollar amid rise in crude oil benchmarks. Crude oil prices edged higher on Tuesday as prospects of demand recovery in China triggered movement. The oil prices hit a seven-week high in previous session. Brent crude futures were trading flat at $88.2 per barrel at the last count.
Besides, Indian equity benchmarks BSE Sensex and NSE Nifty50 opened higher on the Tuesday led by gains in IT and financial shares.
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