Gold rallies Rs 1,400 to touch life-time high; silver zooms Rs 1,860

NEW DELHI: Gold price rallied Rs 1,400 to touch a life-time high of Rs 60,100 per 10 grams in the national capital on Monday amid strong global trends, according to HDFC Securities.

The precious metal had ended at Rs 58,700 per 10 grams in the previous trade.

Silver also zoomed Rs 1,860 to Rs 69,340 per kilogramme.

''Spot gold prices in the Delhi markets traded at Rs 60,100 per 10 grams, up Rs 1,400 per 10 grams,'' Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. In the overseas markets, both gold and silver were trading higher at USD 2,005 per ounce and USD 22.55 per ounce, respectively.

Comex Gold prices traded higher in Asian trading hours on Monday and rose to a fresh 52-week high of USD 2,005 per ounce, Gandhi said.

''Bullions continue surge, with gold on domestic front hitting a new life-time high of over Rs 60,000, as a wave of banking crises shook global markets and put bullion on track for its biggest weekly rise in three years, while bets solidified for a less aggressive Fed in its fight against inflation,'' Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services, said.