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Gold prices spiral out of control as Rupee tumbles

Posted on 29 August 2013

Gold prices surged to an all-time high in India on Tuesday as the rupee descended to record lows against the dollar yet again, and safe-haven investment in the yellow metal increased globally.
Gold prices closed at Rs32,585 per 10 gram, up 2.5% from Monday’s levels, according to the Bombay Bullion Association. Prices inched up internationally as well by 1% to $1,421 on worries of rising risk to global growth from expected tapering of quantitative easing in the US starting next month………………………………………..Full Article: Source


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