Indian gold futures breach key 100,000 rupees level for first time ever

A customer looks at gold chains at a jewellery store in Mumbai, India. (Photo: Reuters)

MUMBAI, June 13 (Reuters) – Indian gold futures rose above the psychologically important 100,000 rupees ($1,161.02) per 10 grams mark for the first time ever on Friday morning, on a weak rupee and tracking gains in overseas markets, dealer said.

Domestic gold futures rose 2% to a record high of 100,403 rupees per 10 grams in early trade, squeezing demand in the world’s second-biggest consumer of the precious metal, dealers said.

($1 = 86.1310 Indian rupees)

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