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Gold prices breach Rs 55,000-mark, touch new high

Gold prices continue to rise further, touching a new high on Wednesday.

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Gold prices breach Rs 55,000-mark, touch new high
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Continuing the upward trend, gold prices on Wednesday breached the Rs 55,000-mark as international prices touched a record high. Gold futures on MCX touched Rs 55,223 per 10 gram. 

Similarly, Silver crossed the Rs 72,000 level with August Future being traded at Rs 72,000 per kg. 

At MCX, September Futures of gold is currently at Rs 55,277 while the October Future is trading at Rs 55,130. 

In the national capital, gold prices jumped Rs 1,365 to Rs 56,181 per 10 gram. 

"Spot gold prices for 24 carats in Delhi rose by Rs 1,365 with a strong rally in international prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said, according to PTI. 

"Gold prices scaled new highs on weak dollar and concerns over economic growth amid rising virus cases," Patel said.

In the international market, gold prices rocketed to a new record high on Wednesday after smashing past $2,000 for the first time. 

US gold futures climbed 1.4% to $2,048.30. 

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