India gold hits record 27,500 Rs./10grms

Tag: Indian Gold Price,Gold Price 27,500 all time High,World Market of Glod

India's benchmark gold futures on the Multi Commodity Exchange extended gains by more than 1 percent on Friday morning and hit a new peak of 27,500 rupees per 10 grams, tailing a rally in the world market.

The October contract rose 1.07 percent to 27,464 rupees at 0434 GMT. It has risen nearly 17 percent in August.

Spot gold rose more than 1 percent to an all-time high of $1,844.55 an ounce, before easing to $1,842.

International gold could hit $1,900 an ounce in the next six months, driven by buyers seeking an investment safe from global economic problems, but a further rise to $2,000 looks unlikely, metals consultancy GFMS said on Thursday.

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