December 2009 Gold prices update

Overall, gold prices witnessed a downward trend during December 2009. Although, gold rate went up during first week of December with 1 gram touching Rs: 1716 in Chennai, prices dropped subsequently with intermittent upward movement. The lowest price was in the range of Rs:1546 and ended up at 1556 on 31/Dec.

This was the case at global market as well, with per ounce gold rate oscillating between $1080 and $1160

Note: The Chennai rates specified are based on Jewelers And Diamond Merchants Association.

Srikanth Ramu