GOLD PRICE NEARS ALL-TIME RECORD, ONE SAVARAN RS.23,904.00
Posted on: 06/Sep/2012 6:26:34 PM
Surpassing all previous records, gold today hit a new record high of Rs 32,758 per 10 grams in futures trade as participants built up huge speculative positions, tracking a firming trend overseas.
22k Gold prices had touched Rs 2988.00 per grams on September 5 in the Chennai.
The prices of the precious metal in Chennai gained Rs. 16 per gram to Rs.23904.00 per 8 grams from the Yesterday.
Traders said the domestic gold price was supported by a strong rally in the overseas market and pick-up in demand from stockists and jewellers for the upcoming wedding season.
A firming trend in the spot market on increased buying ahead of marriage and festive season helped gold to touch new highs in futures trade here.
