Gold prices shoot up as dollar slides

Gold prices shoot up as dollar slides
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New Delhi: Gold prices have gone up substantially in the last fortnight. Traders said it will keep spiralling in the next 15 days.

“In the last 15 days gold prices have gone up by 5 per cent and in the next 10-15 days it is expected to gain another 2-3 per cent,” Rahul Gupta, Chairman cum Managing Director, PP Jewellers and Diamonds, told IANS.

On Thursday, the price of the yellow metal was Rs 31,000 per 10 grams for 24 Karat in the national capital.

Explaining the reason behind this rise, Gupta said in the dollar was getting a beat up in the international market and this was pushing up gold prices to go up in rupee terms.

IANS