Gold, silver soars to fresh record high

New Delhi: Gold prices surged Rs 2,700 to scale a new peak of Rs 1,18,900 per 10 grams in the national capital amid sustained global demand for the safe-haven asset while rupee touching a new low facing the brunt of US H-1B visa fee hike. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity had closed at Rs 1,16,200 per 10 grams in the previous market session. In the local bullion market, gold of 99.5 per cent purity rallied Rs 2,650 to hit a record high of Rs 1,18,300 per 10 grams. It had settled at Rs 1,15,650 per 10 grams on Monday. Traders said the rupee’s steep fall against the US dollar added to the rally of the precious metal.