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| Gold Rate Today |
In morning benchmark gold futures extended gains by more than 3 per cent and hit a new peak of Rs 26,198 per 10 grams, tailing a rally in the world market and on a weak rupee. It has risen over 11 percent in August.
Rupee fell sharply to its lowest in 10 weeks as a selloff in global equities ignited fears of foreign fund outflows.
International spot gold gained more than 2 percent on Tuesday, roaring to all-time highs for a second consecutive session to stand above $1,750 as equity markets dived on growing fears of a global recession following last week's US credit downgrade.
Asian shares tumbled on Tuesday as investors scrambled to adjust to a rapid downgrade in the outlook for US and global economic growth, but later staged a sharp rebound from early lows, helping cushion expected losses in Europe.
US S&P 500 index futures pulled back sharply from earlier lows and crept into positive territory, while European index futures also pared early losses and were trading down around 0.5 percent.
