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Gold prices to hit Rs 14K by Nov?
Gold prices may go up in the coming festive season and cross Rs 14,000 per 10 gms, a top industry official has said.
“Gold price may start hardening and cross Rs 14,000 per 10 gms in November due to heavy demand,” All India Gems and Jewellery Trade Federation chairman Ashok Minawala said on the sidelines of a conference.
“We have seen a 40 per cent drop in gold demand during January to April. However, there was a 25 per cent growth in May-July. Since August demand, has flared up,” he added.
Even during Monday’s trade at the bullion market here, standard gold (99.5 purity) firmed up by Rs 70 per 10 grams to Rs 13,160, while pure gold (99.9 purity) also shot up by Rs 90 to Rs 13,225.
Gold prices may go up in the coming festive season and cross Rs 14,000 per 10 gms, a top industry official has said.
“Gold price may start hardening and cross Rs 14,000 per 10 gms in November due to heavy demand,” All India Gems and Jewellery Trade Federation chairman Ashok Minawala said on the sidelines of a conference.
“We have seen a 40 per cent drop in gold demand during January to April. However, there was a 25 per cent growth in May-July. Since August demand, has flared up,” he added.
Even during Monday’s trade at the bullion market here, standard gold (99.5 purity) firmed up by Rs 70 per 10 grams to Rs 13,160, while pure gold (99.9 purity) also shot up by Rs 90 to Rs 13,225.
