India gold hits record high; traders continue to stock

India gold hit another record on Thursday afternoon following firm overseas markets, though a strong rupee kept the upside limited, with traders booking deals to stock up for a festival next week, dealers said.
The most-traded gold for June delivery on the Multi Commodity Exchange (MCX) was trading 0.36% higher at Rs 22,210 per 10 grams, after hitting a record of Rs 22,234 earlier in the session.
"Buying is still there. I booked for 50 kgs at USD 1,529/1,532 (an ounce). I am closely looking at USD 1,530, as I have a large order there," said a dealer with a state-run bank in Mumbai.
Silver on the MCX was trading 2.90% higher at Rs 70,818 per kg.
Overseas gold prices hit record highs and US silver futures jumped, buoyed by the dollar that languished around a 3-year low as the United States was seen retaining its accommodative monetary policy.
The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.
India, the world's largest buyer of bullion, celebrates the festival of Akshaya Tritiya next week, when demand for bullion goes up.