Gold futures hits new record

Gold futures hits new record

MuIndia gold continued its record-breaking spree on Wednesday morning taking support from a weaker rupee, though prices were steady overseas, analysts said.

The most-active August contract on the Multi Commodity Exchange (MCX) hit another record high at Rs18,850 per 10 grams, before easing a tad to Rs18,828 rupees at 10:42am, still up 0.60%.

The Indian rupee gave up early gains and turned weak on Wednesday weighed by losses in the euro against the dollar. A weak rupee makes the dollar-quoted asset expensive.

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