Arab Today, arab today gold prices soar in india as demand rises
Last Updated : GMT 04:38:06
Arab Today, arab today
Arab Today, arab today

Gold prices soar in India as demand rises

Arab Today, arab today

Arab Today, arab today Gold prices soar in India as demand rises

New Delhi - Arabstoday

Gold prices went past the Rs 28,000 per 10 grams to surpass all previous records, as the metal’s safe haven appeal sparkled amid fears of another global economic turmoil that saw world stocks plunging.Experts said prices may even touch Rs 30,000 level well before Diwali as investors are increasingly shifting funds to gold amid free fall in equity markets. Gold prices in the metros jumped in the range of Rs 960-1,195 per 10 grams.Gold in Kolkata was traded at Rs 28,235, while in Delhi it recorded biggest single-day gain of Rs 1,310 to trade at Rs 28,150 per 10 grams.The precious metal was quoted at Rs 27,980 in Chennai and at Rs 27,750 in Mumbai. In the futures market also, the December contract on the Multi Commodity Exchange (MCX) touched yet another record high of Rs 28,201 per 10 grams at 1730 hrs. The trading sentiment at home was bolstered by gold’s ascent to record levels in overseas markets, as mounting concerns over sovereign debt and slower growth spurred investors to seek the perceived safety of bullion as an investment haven.In London, the spot gold prices zoomed past record $1,867.95 an ounce on concern over melting equity markets. There was scattered demand in the local spot market in view of coming marriage and festival season, even as many were unsure of correction in prices in the coming days.Analysts and branded jewellery makers said that the rally in gold prices is expected to continue as the US and Europe have no over-night solution to tackle the economic uncertainties.“Domestic gold rates may cross Rs 30,000 per ten gram before Diwali (October 26-27),” Gitanjai Group Chairman and Managing Director Mehul Choksi told PTI. He strongly felt that gold demand in India, the world’s largest consumer of precious metal, would not be deterred by a sharp price rise as import of precious metal is higher so far.He also said that the sharp rally could take prices beyond Rs 30,000 per ten gram soon and it would be a good time for those sellers.  As per the World Gold Council, India’s gold imports rose by 34.9 per cent to 553 tonnes in the first half of this year.Echoing views, commodity brokerage firm JRG Wealth Management Senior Analyst Chowda Reddy said gold would continue to remain expensive till the global financial markets improve and the rupee strengthens against the US dollar. “Consumers are finding it difficult to accept the current price.They are in a fix whether to buy or sell gold. Most of the buyers are waiting for a correction. No one is in any hurry to buy,” Delhi-based P P Jewellers Director Pawan Gupta said. From / Gulf Today

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold prices soar in india as demand rises Arab Today, arab today gold prices soar in india as demand rises

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold prices soar in india as demand rises Arab Today, arab today gold prices soar in india as demand rises

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday