Gold continued its momentum at the bullion market in Mumbai on Tuesday on heavy demand from stockists and jewellery makers on the back of a firm trend in the New York market.

The yellow metal hit an all time record high in the morning trade but profit taking at higher levels took away some sheen.

On the other hand, silver fell due to profit selling by speculators.

Standard gold (99.5 purity) rose by Rs 50 per ten grams to close at Rs 19,590 from Monday’s closing level of Rs 19,540. It touched an high of Rs 19,615 in early trade.

However, silver ready (.999 fineness) dropped by Rs 185 per kilo to finish at Rs 35,735 from overnight closing level of Rs 35,920.