Sunday, December 13, 2009

Gold prices are dropping

There seems to be some respite for the yellow metal buyers as gold prices were cooling a bit. For the past few days, the market witnessed a downward trend in gold rates. In the internaltional market the rates for per ounce of gold dropped to $1120 (approx.) from $1160 (approx.) at the start of the week (7/Dec/2009). In Chennai market too, there is a drop of close to Rs: 80 - Rs:90 in the gold prices for 22 Ct 1gm. The current rate is at the range of Rs:1580 which was prevalant during second week November 2009.

Please note the rates mentioned here are based on MJMDA, however the prices at Jewlery marts might be slightly different.

Srikanth Ramu

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