Gold price in India continued to rise on Tuesday. The yellow metal price crossed Rs 50,000-mark for the first time in eight months last week due to escalating tension between Ukraine and Russia. The sooner-than-expected rate hike prediction United States by Federal Reserve always made the investors jittery. On the Multi-Commodity Exchange, the gold future price jumped 0.72 per cent to Rs 50,439 for 100 grams at 0948 hours on February 22. Silver price saw a huge jump on Tuesday. The precious metal future increased Rs 64,345 for a kilogram on Tuesday.
In the international market, gold price hit nine-month high as the Russia-Ukraine conflict had intensified. Spot gold increased 0.2 per cent to $1,909.60 per ounce by 0332 GMT per ounce. At one point it scaled to $1,913.89 per ounce, highest since June 1. US gold futures rose 0.6 per cent to $1,911.50.