Gold hits record Rs 29,540/10 gm

With expectations from Friday’s EU summit not too high, investors flocked to gold pushing up the yellow metal’s price to an all-time high of Rs 29,540 per 10 grams in Mumbai. Its previous record high was achieved on December 2, when it touched Rs 29,490.

With expectations from Friday’s EU summit not too high, investors flocked to gold pushing up the yellow metal’s price to an all-time high of Rs 29,540 per 10 grams in Mumbai. Its previous record high was achieved on December 2, when it touched Rs 29,490.

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“It’s more of speculative interest and rising investment in (gold) ETFs which is pushing up the prices,” said Reena Walia, senior research analyst (international commodities & currencies), Angel Broking.