Gold soars to all-time high

Gold sovereign shot up by Rs 200 to Rs 24,950 per piece of eight gram.

With the general firming trend,silver in Delhi recorded its biggest gain of Rs 2,250 to Rs 59,500 per kg and Rs 2,020 in Chennai to Rs 60,975. It shot by Rs 2,040 to Rs 60,140 in Mumbai and Rs 2,000 to Rs 59,200 in Kolkata. Weekly delivery surged to Rs 59,015 per kg.

Trading sentiment was bolstered as the precious metals posted the highest monthly gains since January in overseas markets after US Federal Reserve Chairman Ben Bernanke indicated more measures to aid the US economy,lifting demand for the metal as an inflation hedge.

Gold in global markets,which normally set price trend on the domestic front,jumped by 36.30 to 1,691.60 an ounce soon after Bernankes speech.