Gold prices touch a new high

Chennai: Gold rates reached an unprecedented level today by touching Rs 41,000 for eight grams in Chennai. This is Rs 256 higher than yesterday’s price.

Gold price in India depends on a host of factors including international gold prices, currency rate movements, and also the local tariffs. One of the most important reasons for gold prices to go higher is international prices.

When international prices of gold move higher, gold rates in India see a change as well and price moves up.