Gold Futures Surge to Record High: Rs 85,680/10g

New Delhi, Feb 10 (PTI) Gold prices on Monday hit a fresh all-time high of Rs 85,680 per 10 grams in futures trade in line with firm global trends.

On the Multi Commodity Exchange, gold contracts for April delivery hit a record high of Rs 85,680 per 10 grams in early trade.

The contract later pared some gains to trade Rs 786 or 0.93 per cent higher at Rs 85,674 per 10 grams with an open interest of 17,497 lots.

According to analysts, gold prices continued to rise as escalating trade tensions between the US and China prompted investors to seek refuge in the safe-haven asset.

"US President Donald Trump...kick-started a trade war as he followed through on his threat to impose new duties on China, though he granted Mexico and Canada a one-month reprieve," Manav Modi, Analyst - Commodity Research at MOFSL, said.

Globally, gold futures jumped 1.13 per cent to hit a lifetime high of USD 2,921.91 per ounce in New York.