Gold Futures Hit Record High of Rs 86,875/10g

New Delhi, Mar 13 (PTI) Gold prices continued their upward trend for the second consecutive session, reaching a new all-time high of Rs 86,875 per 10 grams, by climbing Rs 189 on Thursday, driven by firm spot demand.

On the Multi Commodity Exchange (MCX), the precious metal contracts for April delivery hit a record high of Rs 86,875 per 10 grams in the morning trade.

Later, it pared all its gains to trade lower by Rs 9 to Rs 86,677 per 10 grams on the MCX, with a business turnover of 14,671 lots.

According to commodities experts, gold prices hit fresh highs as easing inflation in the US has reinforced the yellow metal's bullish momentum. The ongoing global trade war and economic uncertainty have also driven the rally in gold.

On the global front, gold futures traded flat at USD 2,946 per ounce in New York.