Gold touched Rs16,885 per 10 grams while the rate of one tola gold hit Rs19,700 onThursday. Global gold rate was $865 per ounce after making new record everyday for the last 10-15 days. Domestic gold rate was Rs15,792 and the global gold rate was $785 per ounce on the 1st Dec. 2007. Domestic prices crossed over Rs16,000 per 10 grams from the last week of December 2007.In 2006, global gold prices hit the record level of $759 per ounce while the highest recorded domestic rate per10 grams was Rs14,400.
People having specific budget sacrifice by purchasing lower weight jewellery sets on their daughters’ weddings. Sales of new jewellery sets had fallen by 50 per cent last year due to higher prices and people preferred bringing in their older sets to be mixed for making the newer sets.