India's gold futures hit new high late Tue

Wed Nov 4, 2009 9:51am IST

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MUMBAI, Nov 4 (Reuters) - India's front-month gold futures climbed to a record high late on Tuesday, tracking gains in the overseas market where the metal is proving to be a destination for diversifying official reserves.

The December contract MAUZ9 MAUc1 on the Multi Commodity Exchange of India Ltd (MCX) touched 16,639 rupees ($352.5) per 10 grams, before easing to close at 16,618 rupees at 11:30 p.m. (1800 GMT). ($1=47.2 rupees) (Reporting by Ruchira Singh)

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