Odishatv Bureau
New Delhi: Gold futures climbed to a fresh high of Rs. 28,800 per 10 grams today, tracking a firming trend overseas, where the rate topped $ 1,910 an ounce as global financial turmoil raised demand for the metal as a safe haven.

All the running contracts - for October, December and February delivery - were trading at record highs.

At the Multi Commodity Exchange, gold for delivery in February shot up by another Rs. 224, or 0.85 per cent, to Rs. 28,800 per 10 grams, with a business turnover of six lots.

Similarly, the metal for delivery in December rose by Rs. 163, or 0.48 per cent, to trade at a record high of Rs. 28,519 per 10 grams, with a trading volume of 121 lots.

Similarly, gold for delivery in October spurted by Rs. 171, or 0.45 per cent, to trade at a record high of Rs. 28,265 per 10 grams, clocking a business turnover of 2,099 lots.

Market analysts attributed the skyrocketing gold futures prices to a firming trend overseas as concerns about slowing economic growth and the debt crisis spurred demand for the precious metal as an alternative investment.

Meanwhile, spot gold prices climbed by 0.8 per cent to an all-time high of $ 1,913.50 an ounce in the Asian region today.

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