The local bullion market gold last business day compared to 30 425 325 per ten grams to Rs 30750 per ten grams reached stunning. Earlier, on June 15 at Rs 30570 per ten grams of gold had reached record levels.
Uptake of precious metals in the local market to both domestic and international factors are responsible. Eurozone crisis averted for the time being in London during the international trade of $ 1630.55 per ounce of gold was recorded.
New York gold futures last trading day at $ 1631.20 per ounce was about. The effect of foreign market is not insulated from the local market. Against the dollar to reach beyond Rs 56 per dollar than the domestic price of gold has come up.
Gold prices are going up because the companies which extract gold from mines are facing difficulties as gold is now less and it is usual that it is a non-renewable thing so it takes million years to form but man uses them in years we should not use too much gold to look beautiful after all we have to think about our upcoming generations, I am not sure why actually gold prices are hiking but i am 90 % sure that is now less available and we should preserve it,Remember don't play with nature or it will play with you.
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