New Delhi, Gold prices in the national capital rose by ₹2,700 to a new peak of ₹1,18,900 per 10 grams amid continued growth in global demand for safe havens, while the rupee hit a new low due to a hike in US H-1B visa fees.
According to the All India Sarafa Association, gold of 99.9 percent purity had closed at ₹1,16,200 per 10 grams in the previous market session.
In the local bullion market, gold of 99.5 percent purity rose by ₹2,650 to a record high of ₹1,18,300 per 10 grams (including all taxes). It had closed at ₹1,15,650 per 10 grams on Monday.
Traders said the sharp fall in the rupee against the US dollar further boosted the rise in precious metal prices.
Silver prices also surged by a massive ₹3,220 on Tuesday to hit an all-time high of ₹1,39,600 per kg (including all taxes). The white metal had closed at ₹1,36,380 per kg in the previous session.
The rupee fell 47 paise to an all-time low of 88.75 (provisional) against the US dollar on Tuesday amid continued foreign capital outflows due to a steep hike in US H-1B visa fees. This hike is expected to deal a major blow to Indian IT services exports.
In international markets, spot gold rose more than 1 percent to a record high of $3,791.10 per ounce.
Spot silver was trading 0.57 percent higher at $44.32 per ounce.
