Gold hits record high of Rs 36,250 in futures trade

Gold for August delivery on MCX hit a record high of Rs 36,250 per 10 gram as rupee slipped to Rs 70.46 against the US dollar. A stronger dollar makes gold costlier in other currencies since gold is denominated in dollar.

Those who purchased gold for August 5 expiry for delivery on MCX made a killing with prices having risen. Demand is lower typically at this time of year, when rural households use cash to purchase agri inputs.