The Gold prices are always seen as the barometer for the global state of affairs. Whenever there is global uncertainty, the Gold prices move up. Whenever the global economy shows strong growth rate, the gold prices remain weak.
Now the Gold prices have reached a multi year high, of 1087 dollars to an ounce, thanks to the purchase of 200 tons of the yellow metal by Government of India from the IMF.
Gold hits 1087 dollars