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Showing posts with the label gold rate today in chennai

Gold Prices On New High in India

Rising inflations coupled with gloomy global economy has seen gold prices raise by as much as 34 per cent in the last one year.Experts also say that the weakness of the US dollar against other major currencies like Euro, Japanese Yen and Swiss Franc too contributed towards the trend. Gold is usually used as a hedge against weak dollar and rising inflation. With the wind being taken out of both, inflation and the dollar, gold will have a good northward run for some more time," said a fund house chief added. Ten years ago today gold was valued at $268 an ounce.  One year ago today gold reached $1,200 and people were thrilled.  Now it's above $1,770 and those in the know say it's not even close to the ceiling. Three years ago we did the same story with him when, like today, stocks sank and gold spiked.  And back then gold's high was $875 an ounce.  If someone would have bought after that story they could have doubled their money.Some people are selling and gold buyers ...