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

November 2009 Gold Price update

The increasing trend in gold prices in October continued during November as well. For instance, if you had bought a gold coin during fist week of November 2009, by November end you would have gained close to 11%. That's the appreciation gold has got during 4 weeks.

Lets take the global gold price trends for November 2009. During the first week of November gold prices in dollars for 1 ounce was close to $1060, however, by the end of November the gold rates were hovering around $1180, an increase of about $120. For more details refer the Kitco chart.

In the Chennai market too the scenario was no different. During November, the minimum price for 1 gram of gold in Chennai was Rs:1505 and it shot up to Rs:1683. For more details on the pricing at Chennai refer mjdma.com.

Srikanth Ramu