Gold prices in India today surged as much as ₹2,000 per 10 gram, hitting a new high of ₹45,724 per 10 gram in futures market.
On MCX, June futures were up 3.5% to ₹45,269 per cent in recent trade, in a catch-up rally with global markets. In India, commodity derivatives trading markets were closed due to a holiday.
Silver futures on MCX also surged over 5% to ₹43,345 per kg. Spot gold rates were down 0.2% at $1,657.67 per ounce after rising to a four-week high earlier in the session.
A stronger dollar, which makes purchases costlier for holders of other currencies, weighed on the metal. Gold prices had jumped nearly 3% in the previous session.