Gold prices breached the crucial Rs 25000-level for the first time ever in history. Gold set an all-time record of 25230 rupees per 10 grams in India on 8 August 2011. Because of the financial uncertainty in the markets, gold appealed to investors as a safer option.
The heavy buying by stockists and investors in tandem with rising global trend mainly resulted into the prices touching record level. In addition, some local buying ahead of marriage season also boosted the price.
Following downgrading of US' credit rating by Standard and Poor's (S&P), investors shifted funds from other options like equities and dollar to gold.
Gold Prices Set an All Time Record of 25230 Rupees per 10 grams
By Jagran Josh
Aug 9, 2011, 15:51 IST
Economy Current Affairs 2011. Gold prices breached the crucial Rs 25000-level for the first time ever in history
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