Gold hits fresh high of Rs 32,590

Buoyed by demand for the wedding season, gold prices on Thursday climbed to fresh record high of Rs 32,590 per 10 grams in the bullion market.

Silver, however, lost Rs 300 ($5.4) to Rs 61,200 per kg on limited demand at prevailing higher levels.

Traders said gold prices surpassed all previous records to a new all-time high mainly on the back of good demand for the wedding as well as the upcoming festive season.

Gold of 99.9 and 99.5 per cent purity climbed by Rs 110 each to Rs 32,590 and Rs 32,390 per 10 grams, respectively.

Sovereign remained steady at Rs 25,500 per piece of eight grams.

Silver ready fell by Rs 300 to Rs 61,200 per kg and weekly-based delivery by Rs 660 to Rs 63,385 per kg.

Silver coins also shed Rs 1,000 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.