India gold at record high

Reuters
Posted: Thursday, Nov 05, 2009 at 2215 hrs IST
Updated: Thursday, Nov 05, 2009 at 2215 hrs IST

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Mumbai: India gold powering to record highs spurred more scrap sales on Wednesday as consumers cashed in on the price jump, but physical offtake remained weak, dealers said.

Currently I have around 15-20 people lined outside my shop, and we expect around 40-50 more by this evening, Jitendra Kantilal, partner, Jugraj Kantilal & Co., a Zaveri Bazzar-based scrap dealer said.Kantilal offered to buy scrap gold at Rs 16,650 per 10 grams.

Gold futures on the Multi Commodity Exchange was 0.02% higher at Rs 16,622 per 10 grams at 2:29 pm, after hitting a record of Rs 16,664 earlier tracing overseas markets.

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