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