New Delhi, November 11: Gold prices today hit an all-time high of Rs 16,980 per 10 gram in the bullion market here in tandem with the global market, where the metal crossed the crucial USD 1,115 an ounce level.
Marketmen said gold prices reached more close to Rs 17,000-level on sustained buying by stockists and jewellers, influenced by a firming global trend.
Gold shot up by Rs 105 to Rs 16,980 per 10 gram here.
Gold, which had been under buying pressure for the ongoing heavy marriage season, remained on record setting spree ever since the Reserve Bank of India bought 200 tons of gold from the International Monetary Fund early this month, raising fears that other governments may follow suit.
Some investors’ fund were seen shifting from other assets to the bullion, considering it to be a better bet, they added.
–PTI