Gold price is falling in futures markets since few days. On 8th of this month, the price of 10 grams of gold was Rs. 29,239 in MCX and by 15th April, it reached Rs. 25,500. Gold price was at its highest in November, 2012 when it was Rs. 33,000.According to traders, there is no stock of gold in the local markets though there is high demand for the metal.
Grounds For Plunge:
- The main reason for the fall of gold pries now is the rumors that Cyprus and Euro zone countries are going to sell their gold stocks.
- Demand for gold is also decreasing.n 2011, the demand for gold was 4,582 tons and in 2012 it was 4,405 tons only.
- Investors are looking towards Dollar which is a more secure investment than gold.
Source
aegindia.org
No comments:
Post a Comment