| An escalation of tensions between the United States and Iran over the Asian nation's nuclear ambitions is likely to result in a short-term increase in gold prices. This was indicated by Ajay Mitra, managing director (Middle East & India) of World Gold Council (WGC), on Thursday.
Gold prices in India are now hovering around Rs 28,500 per 10 gram. "Geopolitical uncertainty generally pushes up crude, gold and other commodity prices. Therefore, there may be a short burst in gold prices due to the ongoing tensions in Iran. But that will not continue for long," Mitra said while releasing the gold demand trend report for 2011...............................................Full Article: Source
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