Wednesday, November 9, 2011

Gold hits another record high

The gold price broke yet another record today in the domestic market by reaching Rs 55,200 for a tola (11.664 grams).
Skyrocketing international price doubled with depreciating Indian Currency (IC) against US dollar pushed the precious yellow metal to whole new level.
The worsening debt worries of Eurozone also made the gold price once again approaching $1,800 once again since September. Investors and central banks are purchasing the yellow metal to hedge any forthcoming economic crisis prompted by expected Italian crisis and existing Greek debt crisis.
However, the silver price went down to Rs 1,075 for tola today.

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