Gold futures hit record high: Rs 85,680 per 10 gram

New Delhi, Feb 10 (PTI) Gold prices on Monday hit a new all-time high of Rs 85,680 per 10 gram in futures trade in line with strong global trends.

On the Multi Commodity Exchange, gold contracts for April delivery hit a record high of Rs 85,680 per 10 gram in early trade.

The contract later pared some gains and was trading Rs 786, or 0.93 per cent, higher at Rs 85,674 per 10 gram, with an open interest of 17,497 lots.

According to analysts, gold prices continued to rise as investors looked for safe haven amid rising trade tensions between the US and China.

“US President Donald Trump has triggered a trade war by fulfilling his threat of imposing fresh tariffs on China, though he has given a month’s reprieve to Mexico and Canada,” said Manav Modi, commodity research analyst at MOFSL. Globally, gold futures jumped 1.13 per cent to USD 2,921.91 an ounce in New York.