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Saturday, April 13, 2013

Gold Plunges In deep

Nearly after 3 years after The great recession, gold prices drops down 5%  to $1487 per ounce ( a drop by 78 ounce ).

 In India , it came down to 28350 per 10 grams  in open market and even below 28000 in    Mcx - India's first multi commodity exchange.

The fall has been a great shock to people who have been investing in gold as it was providing around 20 % returns on their investments . Experts state that , the fall is because of the strengthening of USA's economy . Due to which people have shifted their interest to US security bonds instead of gold. As a result the drop in the price .

The price of gold may drop a little further , as European countries laden with loan - crisis are thinking of selling their gold reserves(rumours) .It is expected that gold would bottom out at roughly $1,281 per ounce. If this happens , people hoarding gold will have to clear their safes and think of something else to invest.


The fall , is gold sign for Indian govt , present crisis about the CAD ( Current Account Deficit ) and has to pay for huge gold imports . It is expected that gold will fall down to 25000 per 10 gram till the end of the this month. SO for common Indian buyer , its a good time to go for a jewelry shopping.
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