Bullion Update

Gold Touches New High @ $799.30

GOLDGold price is on the rise!

Gold Demand will surge in India

As per previous reports from World Gold Council, the prices for yellow metal are likely to go up as the festive season starts in India. The latest reports have pointed out that the demand for Gold in India will rise as the income for various groups has increased. The gold demand may touch US $20 billion by 2010 and by the end of year 2015, it could be well above US $30 billion.

Reliance Money will shortly Bring Lower Gold Coin Variants

Reliance Money

Gold Prices Rise Further To One-Month High

Gold

Gold Price may touch $700 per ounce by the end of 2007

GoldGFMS CEO Paul Walker has predicted Gold price to touch $700 per ounce by the end of year. The reason behind this is weak outlook for the US dollar and sub-prime worries in United States. Mr. Walker further stated “The sub-prime issue is just the tip of the iceberg. It is symptomatic of a larger malaise in the system.” He was in Mumbai for fourth India International Gold Convention.

Gold Resiles The Global Market, Silver Did The Same

GoldGold, rebounding on the bullion market on Saturday closed with a gain of Rs 55 at Rs 8,720 per ten gram, and Silver also did show surge on the market.

According to Marketmen, fresh buying by retailers and jewellery fabricators on the back of firming trend in overseas markets mainly helped pumping up the gold prices.

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