Gold prices surged to an all-time high of ₹89,014 per 10 grams on Wednesday in futures trading, driven by strong demand in the spot market.

On the Multi Commodity Exchange (MCX), April gold contracts touched the record high in morning trade before retreating. Later, the prices declined by ₹142 to ₹88,868 per 10 grams, with a business turnover of 13,934 lots.

Market analysts attributed the initial price surge to robust investor interest and global cues, while profit-booking led to the subsequent dip.

Gold prices have been on an upward trend amid economic uncertainties and strong demand, with traders closely watching global market movements for further direction.