Simone Bora is contemplating the unthinkable -- an Indian wedding without lavish amounts of gold after record high prices and a sinking rupee have dimmed her hopes of sparkling at the party. We need to think whether to buy gold or not because nearly 30,000 rupees for 10 grams is too much, Bora said in a jeweler's shop in Zaveri Bazaar in Mumbai, one of the world's biggest gold markets. Thirty-thousand rupees is $580.
The spectacular bull run in gold prices is unlikely to end soon, with bullion retaining its appeal in 2012 due to the uncertain global economy, analysts and industry officials said on Friday.
Gold prices slipped modestly Thursday as investors booked profits from this week's 3.3 percent rally in the yellow metal.
Gold shot higher Wednesday after the world's top central banks launched a coordinated plan to provide liquidity to struggling Eurozone banks and China did likewise for its banks.
Severstal, Russia's biggest steelmaker, is set to spin off its Nord Gold unit and could list the standalone business in London, less than a year after being forced to pull a planned $1.5 billion public offering.
Gold prices fell Wednesday after eurozone finance ministers said there are only 10 days left to save the monetary union from financial catastrophe.
Gold prices barely moved Tuesday as investors waited to see if Eurozone finance ministers meeting in Brussels will agree to strengthen the continent's bailout fund to insure sovereign debt.
Simone Bora is contemplating the unthinkable -- an Indian wedding without lavish amounts of gold after record high prices and a sinking rupee have dimmed her hopes of sparkling at the party.
Gold prices barely moved Tuesday as investors awaited the outcome of a critical Eurozone meeting expected to approve a boost to the continent's bailout fund and OK the next tranche of aid to debt-choked Greece.
Simone Bora is contemplating the unthinkable - an Indian wedding without lavish amounts of gold - after record high prices and a sinking rupee dimmed her hopes of sparkling at the party.
Gold prices surged Monday along with equities on hope that drastic action by France and Germany can save the Eurozone from its two-year-old sovereign debt crisis.
Gold prices will climb to $1,875 per troy ounce this month and to an average of $2,000 next year, Barclays Capital Research said Monday in a report.
Gold prices surged Monday as German and French leaders worked on emergency plan to save the Eurozone within weeks rather than months and strong U.S. retail buying bolstered equities.
Gold prices slipped Friday to a two-week low as a surging dollar offset support from rising equities, higher crude oil prices and strong investor demand for gold.
India gold prices are likely to fall more than 3.5 percent from its peak after a 16 percent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed, a Reuters poll of banks and brokerages found.
Gold prices fell Friday in what appeared to be their second straight weekly retreat in the face of a Eurozone crisis, which after two years has yet to be contained, let alone solved, and now threatens Europe's financial liquidity.
India gold prices are likely to fall more than 3.5 percent from its peak after a 16 percent rally last quarter as investors resort to year-end profit-taking while tepid wedding demand weighed.
Gold prices fell Wednesday as investors sold the metal to raise cash but bargain hunting and short covering pared the losses so the yellow metal ended the session just shy of its opening price.
Gold producer and explorer, Goldplat said it expected to make its first shipment from its Kenyan mining project in early 2012, after receiving a mining licence from the government.
Gold producer and explorer Goldplat said it expected to make its first shipment from its Kenyan mining project in early 2012, after receiving a mining licence from the government.
Some analysts think the crisis is a global crisis and not one emanating just from Eurozone.
Gold prices fell Wednesday on negative economic news from China and Europe and concerns that the U.S. economy is barely advancing.