Retail gold trade in the State considerably tapered as price of the precious metal hit an all time high in the state.
The price went up to Rs.1,495 per gram (Rs.11,960 per sovereign). A Sharp slide in global equity markets due to deepening financial crisis have send shivers down the spine of investors preferring to shift their funds to this safe-haven metal.
Strong demand from the world’s largest bullion-backed exchange-traded fund (ETF) also helped the gold to notch handsome gains. The market would go up together due to high demand for gold exchange traded funds for investment, traders said.
Courtsey: Asianetindia.com
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