Mumbai: Gold price surges to all-time high of Rs 21,000 per ten grams; silver rate sets a new record of Rs 43,950 per kg in the Delhi bullion market.
Earlier, India's gold benchmark futures on Wednesday struck a record high of Rs 20,625 per 10 grams, tracking firm global markets.
Analysts expect the rally to continue and breach Rs 21,000 in coming sessions.
At 10:40 am, the contract was at Rs 20,589, up 0.25 per cent, after gaining 1.3 per cent in the previous three sessions. The earlier record of Rs 20,624 was hit on Tuesday.
"Gold is expected to trade positive due to continuing debt problems in Europe, and may witness Rs 21,000 by end of the week," said Pranav Mer, senior analyst with Mangal Keshav Commodities.
International gold held near its highest in more than two weeks as growing fears about Portugal's debt pummeled the euro, sending bullion priced in the single currency to a record high.
However, a strong rupee kept the upside in local prices limited, analysts said.
The rupee strengthened supported by positive opening of domestic shares and also tracking gains in other Asian currencies.