all that glitters is gold

Posted: August 21, 2011 in society, Trade & Economy

It is not just fuel that’s hitting the news for the wrong reasons; there is the yellow metal that’s quietly making inroads in our pockets big time. Besides, increased consumption of gold in India and China following downgrading of US´ credit rating is the other reason behind rise in gold prices,”. The yellow metal has become dearer by Rs 3,000 per tola in the domestic market in a week´s span. Continuous surge in gold prices,
meanwhile, has caused daily transaction of gold to drop by more than 25 percent.

Look at the way the price has shot up since jan 1st

1st Jan,2009
13662, 13670, 13664

31st Dec,2009
16657, 16652, 16683, 16665

31st Aug,2010
18939, 18955, 18946, 18951, 18949, 18950, 18927, 18934, 18942, 18994, 19089, 19080, 19097, 19126, 19133
31st Dec,2010
20769, 20720, 20698, 20683, 20689, 20687, 20685, 20665, 20688

30th Jun,2011
22149, 22140, 22173, 22142, 22090, 22078, 22087, 22068, 22100, 22071

21st Aug,2011
27922

People are planning their wedding purchases in advance because they feel that prices may go to 30,000 (rupees). they are using that to buy,” said Sunil Kashyap, head of Asia, Scotia Mocatta. Gold prices have gained more than 25 percent so far in the year to peak at 27,989 rupees per 10
grams on Saturday, continuing its rising trend for eight years in a row.

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Comments
  1. Bikram says:

    Good to invest though…
    My oh my prices have gone up

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