Thursday, June 14, 2012

Gold hits new record price

Gold has hit another record today as it hit Rs 57,200 per tola (11.664 grams). The international bullion market had seen gold prices reaching $1615 per ounce. Yesterday, gold was priced at Rs 56,950 per tola.
The domestic bullion market is witnessing gold hitting off record after another as the European debt contagion strengthened gold’s appeal in the global commodities market. Spain opting for a bailout from the European Central Bank, Italian bonds yields hitting record highs, and uncertainty regarding the future of Greece's affiliation in the EU has propelled the current rally.

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