Gold on Monday hit the historic high mark of Rs 18,300 per 10 grams, while the yellow metal was traded at $916 an ounce in the world market, said traders.
Now, yellow metal in the local market was traded with an increase of Rs 43 at Rs 18,300 per 10 grams, which was available at Rs 18,257 per 10 grams on Saturday.
Similarly, gold per Tola price rose to Rs 21,350 from Rs 21,300, traders said. The world gold price also continued to surge to $916 an ounce after a sharp decline of $7 an ounce on last Monday. It was traded at the historic high $921 an ounce, they added.
They said that speculative buying of gold, recent Iran-US political confrontation and overall world geopolitical situation were behind the rise in the gold prices worldwide. They said that gold was still being sold under cost by Rs 200 per 10 grams. After the general election, the market scenario is hoped to get clear, as so far only 22 percent of the gold sale was taking place in the local market, they said.