Bullion Markets

Gold Prices May Cross 12k Mark In 2008

Market analyst has projected that gold rates may cross Rs. 12,700 per 10 gram level (or USD 1,000 dollar an ounce) in the existing year (2008).

The analysts also told that there are full chances that the prices may even touch Rs 15,000 per 10 gram during Diwali.

After hitting a new peak of Rs 11,475 per 10 gram on Friday (Jan. 11, 2007), market traders said that the gold rates are likely to cross new high in the short-run due the coming wedding season.

But, the market is anticipating that the existing ride in gold prices is likely to continue till January-end.