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Gold Prices Touch 6 Week High

2011 was a year which marked high rise in prices of Gold and the trend do not seem to change in the near future. Gold has touched a 6 week high as a result of overseas market. Strong rupee value however, managed to hold a bit. On the Multi Commodity Exchange, gold ended 0.25% at Rs.28,059 after touching Rs.28,094 which was last seen on December 21st.

You might already be aware of the fact that the Govt. has changed the import duties on Gold and Silver. Global increase in gold prices also added to the increase in the costs leading to biggest monthly increase since August, last year. Strengthening of Rupee is the only way for the gold prices to come down which are not reachable now.

It will be an interesting one week of gold market with Indian rupee marking consistent growth. However, in an extremely dynamic market, it is now highly unpredictable where the market goes for the following day. If you are interested in purchase, do not risk or wait for the decrease.


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