October 2009 Month Gold update

Overall, for the month of October 2009, the Gold prices saw an increasing trend with marginal fluctuation during mid of the month. The least price of Gold per gram was Rs: 1447 recorded on 5th/Oct and the highest rate touching Rs: 1496 on 23rd/Oct. During second half of the month, the rates predominantly remained above Rs: 1480 mark. In global scenario, the yellow metal prices per ounce remained above USD 1000 hovering around $1050 - $1060 mark. Moreover, October month saw Gold prices breaching record high over $1060.

Amidst the furor over the surge in Gold prices, India celebrated important or rather auspicious days for buying gold during October. However, there were some sporadic good news as well, following the global cues, the local market witnessed a slight drop in prices on 27th/Oct recording Rs:1486, but subsequently had an upward trend.

Srikanth Ramu