New Delhi: Continuing its rising streak, gold prices again crossed Rs.30,000 per ten gram level in futures trade on Friday by rising 3.56 per cent as speculators engaged in building up positions amid a firming trend overseas.
Gold surged by Rs 1,310 per 10 gram here, the highest in two years, to Rs 31,010 on strong demand from stockists ahead of festive season, after government increased import duty on the metal to 10 per cent.

A sharp fall in Sensex and rupee against dollar and strong global cues also contributed to the upsurge in gold price, which posted the biggest single-day gain after August 19, 2011. Interestingly, the metal had shot up by Rs 1,310 on August 19, 2011 as well.

Gold has regained Rs 31,000 level after a gap of six months. An all-time high was Rs 32,975 per 10 gram on November 27, 2012, in Delhi bullion market. Globally, gold rose 0.50 per cent, to trade at USD 1,372.97 an ounce in Singapore, the highest since June 19 in Singapore on Friday.