Gold prices to skyrocket to Rs. 35,000 by the year end

Nov 26, 2012: The gold prices which has been constantly moving north and is at an all time high of Rs. 32, 850 is all set to skyrocket to Rs. 35,000 by the year end. The increase in prices of yellow metal is attributed to the increased consumption in the domestic market and depreciating Indian currency. The continuous weakening of Indian currency has resulted in 15% increase in the price of gold in the domestic market since last one year. The industry experts predict that there will be consolidation in the prices of gold in the coming weeks. It is also predicted that the rate of increase in the prices of gold will slow down and will be around 10-12% in the years to come.