Gold is trading with strong gains due to a sharp sell-off in equities and the rupee's decline against the US dollar.
Global gold prices spiked 1% to their highest in over six years as the heightened trade war between the US and China made the yellow metal attractive.
MCX Gold for August delivery touched a record high of Rs 36,250/10gms with the rupee falling to Rs70.46/$.
Further, kilo gold delivery volume on MCX was close to hitting a fresh five-year high of 3 tonnes in the current Aug expiry.
Silver also rose on strong domestic demand.
Global gold prices spiked 1% to their highest in over six years as the heightened trade war between the US and China made the yellow metal attractive.
MCX Gold for August delivery touched a record high of Rs 36,250/10gms with the rupee falling to Rs70.46/$.
Further, kilo gold delivery volume on MCX was close to hitting a fresh five-year high of 3 tonnes in the current Aug expiry.
Silver also rose on strong domestic demand.
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