Spot gold up over 4% so far this week

GOLD PRICES SURGED for the third consecutive session on Friday, bouncing ₹2,011 to hit an all-time high of ₹100,403 per 10 grams, as a weakening rupee and escalating tensions in the West Asia drove investors to the safe haven asset.

- PRESS TRUST OF INDIA

On the Multi Commodity Exchange (MCX), the most-traded August delivery contracts of the precious metal zoomed ₹2,011, or 2.04%, to hit a record high of ₹100,403 per 10 grams in the morning trade.

Later, it traded at ₹100,145 per 10 grams, up ₹1,753, or 1.78%, with an open interest of 16,602 lots on the bourse.

Gold future prices had on April 22 surged ₹2,048 to hit a fresh record high of ₹100,000 per 10 grams. Subsequently, the October contract of the yellow metal jumped ₹1,970, or 1.98%, to hit a fresh peak of ₹101,295 per 10 grams on the MCX.