India's benchmark gold futures on the Multi Commodity Exchange extended gains by more than 2 percent on Monday morning and hit a new peak of 25,180 rupees per 10 grams.
The October contract was trading 1.27 percent higher at 24,965 rupees.
Gold rate (£) roars to record
Gold priced in sterling (gold rate) roared to a record around 1,033 pounds an ounce on Monday on safe haven buying ignited by the downgrade of U.S. credit ratings by Standard Poor's and persistent worries over the threat of contagion from the euro debt crisis.
Ratings agency S&P's cut the U.S. long-term rating by one notch from AAA on Friday, capping a week that saw $2.5 trillion wiped off companies' market values amid worries the United States is sliding back into recession.
The October contract was trading 1.27 percent higher at 24,965 rupees.
Gold rate (£) roars to record
Ratings agency S&P's cut the U.S. long-term rating by one notch from AAA on Friday, capping a week that saw $2.5 trillion wiped off companies' market values amid worries the United States is sliding back into recession.
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