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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold soars to a new high in India as wedding season gets underway

Posted on 16 November 2011

Gold touched a new all-time high in India in Rupee terms, although not in dollars as the rupee has fallen back sharply against the Greenback. converting to US dollars the price rose $0.59 to $578.60 per 10 grams, driven by heavy purchases across the country for the ongoing marriage season. Silver followed suit and gained $2.96 to $1,145 per kilo given the increased offtake by industrial units and jewellery retailers.

India is the world’s biggest buyer of bullion and traders insist the country’s wedding and festival season has boosted prices every year since 2002. …………………………………….Full Article: Source


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