Click to play videoNew Delhi: Gold prices soared on Wednesday, registering the highest one-day climb in 26 years.
The United States of America Government's bailout of American International Group, Inc. (AIG) has created further panic amongst equity investors and many have pulled money out of equities and into safe-haven assets.
Gold prices shot up by Rs 1,000 to Rs 12,915 per 10 gram in Delhi bullion market in opening trade on Thursday.
In the US, gold for December delivery rose by more than $90 or 11.6 percent to $870.90 an ounce on the New York Mercantile Exchange.
Oil prices, too, climbed by $6 a barrel - the second largest one-day surge on record on Wednesday.
After trading at $91.36, US light crude oil prices climbed up to $97.16 a barrel and then shed $1.04 to $96.12 a barrel by 0440 GMT.
World oil prices rebounded on Wednesday after falling to more than one-third since the all-time high of over $147 a barrel in July.
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