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With America’s economy getting stronger, the gold prices reduce
Posted on: 09/Jun/2014 3:32:07 PM
The price of gold per gram stood at Rs. 2,822/- and the sovereign at Rs. 22,584/- during May. Since then, there has been a gradual reduction in gold price.
Compared to this last month price, the price of gold now per gram s Rs. 2,200/-. This is expected to fall further.
It is observed that the main reason for the fall in gold prices is the strengthening of USA economy.
Gold priced have fallen at international level. The interest of the gold investors has now turned to stock market. The numer of investors in gold has considerably reduced.
The previous government initiated the measure of rising the price if imported gold by 10% in order to increase the Indian Rupee Value against the US Dollar.
However, it is reported that the new government has planned to reduce the price of imported gold.
Hence, it is expected that the price of gold will continue to fall further and touch Rs. 20,000/- per sovereign.
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