Gold price shoots up

Gold price shoots up

Post note ban, gold prices followed a downward trend with less demand and reached a 11-month low 2 days back. But, the trend reversed suddenly after being low for some time. The rise continued for the second day as the sales rose unexpectedly for the last 10 days.

After dumping the trend on Tuesday, it continued the upward trend again on Wednesday by 175 rupees to 28,200. On the other hand, silver also observed the same trend. It became costlier by 350 rupees at 39,500. Analysts say there has been an increase in purchase of costly metals by coin makers and industry. Meanwhile, international gold prices rose by 0.35 percent to 1142.30 dollars per ounce.

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