MCX Gold in domestic market in Thursday's trading met it's highest price in the history. However its prices in the international market is less than 15 per cent to record levels. Currently MCX gold is trading at Rs 30130 with a marginal gain od 0.3%.
One of the reasons of this fluctuations in the price of gold is movement in the currency. In the current fiscal year the total investment in ETF gold is around at 9 Crore which was 690 Crores in last financial year.
In the begininning of Financial year 2012 the price of gold was around 27,300 which has now reached a level of around 30,000. The increase in the prices of MCX gold is almost by 12%.
According to experts due to the growing weakness of rupee against the dollar has supported the gold to meet the new price heights.