Spot gold hits life time high to Rs 32,975

Gold surged to a lifetime high in the domestic market propelled by a weak rupee and demand from stockist and jewellers due to the on-going wedding season.

Delhi spot gold of 99.9% purity rose to Rs 32,975 per 10 grams and gold of 99.5% was seen at Rs 32,775 per 10 grams.

Weak rupee was seen boosting demand for gold. The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.

International gold was steady at $1,749 an ounce. Eurozone Finance Ministers and International Monetary Fund on Monday agreed on debt level targets for Greece. The Euro rose against dollar which supported sentiments for gold.

Back in India, gold on MCX was flat, with the December gold futures trading at Rs 32,390 at 02.30 pm IST.

Silver for December delivery was seen trading higher by Rs 146 to Rs 63,880 per kgs.

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