Gold price reaches record high

February 17th, 2009 - 9:56 pm ICT by IANS  

Mumbai, Feb 17 (New Delhi) Gold prices Tuesday zoomed Rs.360 to a record high of Rs.15,200 per ten grams in Indian bullion market on strong global cues and support from a weak rupee.
The yellow metal continued its bull run at international markets also as investors kept buying gold amid worsening global economic outlook.

Gold prices are up 30 percent in the past three months.

The April delivery of gold was traded at around Rs.15,200 on the Multi Commodity Exchange of India Ltd (MCX), the highest since the bourse began trading the metal in November 2003.

Meanwhile, the Bombay Bullion Association, the apex gold trade body in the country, Tuesday reported that India’s gold import in February was zero.

Imports in January lumped to about two tonnes from 24 tonnes a year ago, the association said.

Experts blamed high prices and weak rupee for the fall in imports.

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