By December Indian Gold Expected to Rs. 31,000

Gold in India

Gold prices in India are expected to bounce around Rs. 31,000 per ten grams by the end of the year, however the demand for the yellow metal could stay at 860 ton after the government put restrictions to reduce imports, as experts said.

Head Commodities Naveen Mathur, Angel Broking said PTI “Weak rupee and higher duty will keep the landed cost of gold higher. The yellow metal is expected to be around Rs. 30,500 to Rs. 31,000 level by the end of December,”

Gold MCX price was Rs. 28,600, whereas in the international market it was at $1,376.70.