New Delhi, December 3: Gold prices rose by Rs 670 to Rs 1,32,200 per 10 grams in the national capital on Wednesday, driven by strong global trends and a sharp decline in the rupee, which fueled demand for the safe-haven asset, as per the All India Sarafa Association.

On Tuesday, the price of 99.9% pure gold had closed at Rs 1,31,530 per 10 grams.

Traders attributed the price hike to the rupee's fall to an all-time low against the US dollar, which contributed to higher bullion prices.