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India Gold prices hit all time high of Rs 31,000

Thursday, August 23, 2012 5:32

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India Gold prices hit all time high of Rs 31,000

Indian gold prices advanced for the fourth day in a row on Thursday to touch a all time record high of Rs 31,035 per 10 grams in the bullion market, tracking gains in the overseas markets, though a firm rupee capped the upside.

Indian gold prices rose by Rs. 290 to surpass past the previous record of Rs. 30,750 set on June 19 this year. The yellow metal has added Rs. 305 in the last three trading days.

Global gold prices gained to the highest level in nearly four-month on Wednesday, after breaking above the key 200-day moving average, mainly due to a bullish reading of the minutes of the last meeting of the Federal Reserve’s Federal Open Market Committee.

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