Glittering Gold

The price of the precious yellow metal has been on a rollercoaster over the past few months reaching its all time high in May this year.

People who had purchased gold as an investment option have never had it so good. A whopping more than 60% increase in gold prices was witnessed from the period April 04 to May 06.

With gloomy clouds hovering over Middle East, the stock market crashes, firmer crude oil prices, depreciating dollar, gold has once again become the prince charming, with investors turning to this metal as a hedge against inflation.

With the festive season round the corner and occasions like Raksha Bandhan, Dhan Teeras, Diwali and of course the marriage season coming up the demand of the yellow metal will increase and thus the price will spiral upwards.

The market Pundits echo the above sentiment and believe that investing in gold is the most attractive option. They believe that it is just a matter of time that gold prices breach the Rs 10,000/- mark again.

Gold prices in Mumbai closed at Rs 9560/- per 10 gm on July 27, 2006 up by Rs 170.