Gold prices surged to an all-time high of Rs. 30,550 per 10 gm in the national capital on Thursday, surpassing its previous record level of Rs 30,420 set on Wednesday. The yellow metal had gained Rs 920 in previous four trading sessions.
Silver rose by Rs 100 to Rs 55,700 per kg on increased offtake by industrial units.
Gold futures extended gains in electronic trading, putting the metal on track for a five-session winning streak, spurred by speculation of fresh monetary stimulus from the US Federal Reserve.
Gold for August delivery was flat at US$1,620 an ounce.
A softer dollar was also encouraging gold buyers in Asian trading. The dollar index, which measures the greenback’s performance against a basket of six major currencies, fell to 82.090, from 82.126 in North American trading on Wednesday.
The Indian physical traders stayed on the sidelines on Thursday.
Gold demand in India is likely to remain sluggish in the coming months due to a lack of weddings and festivals during the monsoon.