Business
Prices for gold reach a record high of around Rs 56,000.
In line with gains on the global market, Indian gold futures hit a record high on Friday, but the country’s demand for the metal was affected by the price hike, according to Reuters.
Local gold futures prices rose to 56,245 ($691.45) per 10 grammes, surpassing the previous record of 56,191 set in August 2020.
As a result of speculators adding to their positions in response to robust spot demand, the price of gold futures for February delivery on the Multi Commodity Exchange jumped by 228 or 0.41 percent to 56,103 per 10 kilos.
Gold was priced at USD 1,906.80 per ounce on a global scale, up 0.42 percent.
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