Gold prices at all-time high of Rs 32,950

Gold prices today surged by Rs 100 to all-time high of Rs 32,950 per 10 grams here on sustained demand from stockists and retailers to meet the rising requirements during the ongoing wedding season.

The previous record of gold price was Rs 32,900, set on September 14.

Silver also rose by Rs 200 to Rs 63,200 per kg on increased offtake by industrial units.

Traders said the gold sentiment turned bullish on rising wedding season demand and a weak rupee against the US dollar.

Continuing its decline against the American currency for the fifth day, the rupee in early today declined to 55.61 a dollar due to persistent dollar demand from banks and importers.

On the domestic front, gold of 99.9 and 99.5 per cent purity added Rs 100 each to Rs 32.950 and Rs 32,750 per 10 grams, respectively, a level never seen before. The yellow metal had gained Rs 450 in last three sessions. Meanwhile, sovereigns held steady at Rs 25,650 per piece of eight grams.

Similarly, silver ready strengthened by Rs 200 to Rs 63,200 per kg and weekly-based delivery by Rs 340 to Rs 63,860 per kg, respectively. Silver coins continued to be asked around previous level of Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.