Surpassing all previous records, gold hit a new record high of Rs 32,758 per 10 grams at the futures trade today as participants built up huge speculative positions, tracking a firming trend overseas.

A firming trend in the spot market on increased buying ahead of marriage and festive season also helped gold futures to touch a new high.

At the Multi Commodity Exchange, gold for delivery in April next year shot up by Rs 146 or 0.45 per cent to trade at an all-time high of Rs 32,758 per 10 grams with a turnover of two lots.

Similarly, gold for December contract gained Rs 177 or 0.48 per cent to trade at a record high of Rs 32,030 per 10 grams, clocking a business volume of 287 lots.

Gold for delivery in October also edged up by Rs 181 or 0.6 per cent to trade at a record high of Rs 31,649 per 10 gm in a turnover of 11,951 lots.

In the domestic spot market yesterday, gold had strengthened by Rs 130 to an all-time high of Rs 31,980 per 10 gm in the national capital.

Market analysts said the rise in gold futures was mostly attributed to speculative positions built-up by participants driven by a firming trend overseas.

A firm trend prevailed in the overseas markets on speculation that the European Central Bank will announce unlimited purchases of government bonds to defuse the debt crisis, which in turn boosted the euro and raised the demand for the precious metal.

Meanwhile, gold gained 0.30 per cent to $1,698.65 an ounce in Singapore.

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