Gold prices cross the 14,700 mark

Gold continued to be the proven and most dependable investment in the current economic crisis, as gold prices reached an all-time high crossing the Rs.14,700 mark yesterday in India. The skeptical outlook of the equity markets led to investors maintaining their faith in the yellow metal.

According to media reports, prices of pure gold (99.9 purity) increased to 14,770 from the 14,450 a day prior. Standard gold (99.5 purity) increased by Rs.315 per gram to Rs.14,705, from 14,390 the day earlier.