Gold futures hit fresh peak of Rs 88,499/10g

Gold prices on Tuesday touched an all-time high of Rs 88,499 per 10 grams in futures trade in line with firm global trends.

On the Multi Commodity Exchange, yellow metal contracts for April delivery hit a record high of Rs 88,499 per 10 grams in early trade.

Later, the contracts pared the gains to trade Rs 380 or 0.43 per cent higher at Rs 88,403 per 10 grams with an open interest of 13,898 lots.

According to analysts, gold surged to a new all-time high amid escalating tensions in the Middle East

Globally, gold futures increased 0.35 per cent to hit a lifetime high of USD 3,010.97 per ounce in New York.

"The prices of the yellow metal touched lifetime high levels as geopolitical tensions, jitters about tariffs escalating trade frictions, and increased hopes of interest rate cuts from the Federal Reserve continued to fuel safe-haven demand," said Prathamesh Mallya, DVP-Research, Commodities and Currencies at Angel One Ltd.