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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sea Otter who wrote (69665)	9/29/2007 12:22:34 AM
From: sea_biscuit	Read Replies (3) \| Respond to of 116555

Has gold become too expensive? Not in India! As dollar continues to weaken against other currencies, gold prices have spurted to cross 28-year-high of $750 per ounce. However, in the domestic market the price remained around Rs 9,500 per 10 gram. On Friday, it closed at Rs 9,595 per 10 gram. The Indian currency has appreciated by over 10% in the last one year against dollar. If this was not the case, the gold would have been quoted around Rs 10,500 per ten gram.