The bright and precious yellow metal "Gold " Wednesday soared to all-time high breeching the level of Rs.34,500 per 10 grams and currently hovering around Rs.34,000 per 10 grams at 3:30 p.m., the time of closing the Indian stock exchanges.
This sharp jump in gold price happened due to sharpest fall in Indian currency “Rupee” and restriction in Gold imports, according to market analysts.
Today Rupee fell to Rs.2.50 as against US Dollar in the international market, touching to 68.75, the lowest in 18-years.
This led to pull down to Indian bourses that plunge to 2% in the pre-noon session. However later both Sensex – the 30-scrip indices of Bombay Stock Exchange, and Nifty – the 50-scrip indices of National Stock Exchange did excellent recovery and closed at flat on 17, 971 and 5,275 respectively.
The price of Gold October Future in MultiCommodity Stock Exchange is being traded at Rs. 33,940 per 10 gms.
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