Gold Price rises 24% this year, silver up by 43%

Mumbai-India (July 30)  Gold prices firmed up on Saturday to hit the highest in three weeks at Mumbai’s popular Zaveri Bazaar following global demand for a safe haven. With hedge funds strengthening their long positions in gold, gold prices are expected to surpass $1,435 in the near term. Standard gold in Mumbai’s popular Zaveri Bazaar jumped by nearly 24% so far this calendar year on weakening dollar against major global currencies. With fresh spurt of Rs 90, standard gold was trading at Rs 31,150 per 10 grams on Saturday, the level not seen since July 7. In India, however, gold prices.

Source: Business-Standard