| Rising tensions in Iraq and weaker-than-expected employment data in the U.S. last week saw gold gaining on the international market as well as the domestic market. Following the global cues, investors and stockists resorted to gold buying for its ‘safe haven’ status and standard gold in Mumbai moved up from Rs. 26,660 per 10 gram on Monday last to close Saturday at Rs. 27,325 a 2.5 per cent gain.
Bullion traders and market watchers who were very confident of gold’s declining trend, are now more sanguine. The reaction in prices could be more gradual, they felt...............................................Full Article: Source
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