Gold prices surge Rs 34,500, close to six-year high

Gold rose to Rs 34,500 per 10 grams in the initial trading, which is the highest level since the last six years.

New Delhi: Gold prices on Friday reached the highest level on the domestic futures market MCX. Gold rose to Rs 34,500 per 10 grams in the initial trading, which is the highest level since the last six years.

Earlier, gold touched the highest level of Rs 35,074 per 10 grams on August 28, 2013, at MCX. This increase in price has been inspired by the overseas market, where gold has moved above $ 1,400 an ounce.

Gold prices on the Comex also remained at the highest level since September 2013.

The commodity market analysts show that after recent geopolitical tensions prompted the US central bank to cut interest rate, after rising investor sentiment towards safe investment, gold is continuously rising in the international market.