Gold price touches one month high

Price of the yellow metal on Tuesday was hovering around Rs 28,800 per 10 grams for 24 carats, as against around Rs 27,000 per 10 grams a month back.

By Author   |   Published: 10th Jan 2017   6:32 pm Updated: 10th Jan 2017   7:47 pm
gold
Representational Image

New Delhi: Riding on improvement in demand and declining rupee, gold prices in India have hit a one-month high.

The price of the yellow metal on Tuesday was hovering around Rs 28,800 per 10 grams for 24 carats, as against around Rs 27,000 per 10 grams a month back.

“Demand is slowly picking up in domestic market because of wedding season. In November there was no demand due to demonetisation. Also rupee has weakened against dollar by almost 90 paise in the last one month,” Bachhraj Bamalwa, director, Nemichand Bamalwa and Sons said.

He also added that in the international market there is not much activity since December’s third week as most of the people are on annual leave during this time.