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Gold goes to new high

Gold goes to new high

Its Monday, the first day of the week, again. And this week is so important, for this is the first week after long holidays for Pongal / Sankranthi season.

Today, gold climbed to its highest in nearly six weeks. This is because of a dip in equities, which lifted the metals safe-haven appeal. Besides this, it also paved way to improved investor confidence.

Meanwhile, in first increase since this year, holdings in SPDR Gold Trust rose 7.49 tonnes to 797.05 tonnes on Friday.

It is to be noted that SPDR is the worlds largest gold-backed exchange-traded fund, and its activities are keenly watched by stakeholders across the world.

In India, the markets resumed normalcy after a holiday week and jewellery shops in Chennai and other cities witnessed normal trade since this morning.

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