86 yrs history of gold price per 10 gms upto 2011

Gold price history.

Gold Bearish

In the national capital, gold of 99.9 percent and 99.5 percent purity slid Rs 50 each to Rs 26,950 and Rs 26,800 per 10 grams, respectively, its weakest level since April 17. The precioushttp://www.reliancemgp.com/images/price.jpgmetal had lost Rs 340 over the past two days. Sovereign fell Rs 100 to Rs 23,600 per piece of 8 grams.

Gold in New York, which normally sets the price trend on the domestic front, fell 0.6 percent to USD 1,168.10 an ounce and silver by 0.7 percent to USD 15.98 an ounce in yesterday's trade.

Gold India Bearish

"We expect the gold prices to remain bearish and if the rupee continues to rule at current level the yellow metal may touch Rs 24,500 level by December," Motilal Oswal associate vice president for commodities Kishore Narne said. Echoing similar views, Commtrendz Research director Gnanasekar Thiagarajan said the prices are expected to be around Rs 25,000-25,500 by December if the rupee continues at the current 61 levels.

Weak global prices: In global commodity markets, gold was trading near its lowest since 2010, at $1,168 an ounce. With gold breaking the critical support levels of $1,180, there could be more downside to its prices, said Vikas Vaid, product head of commodity and currency at Prabhudas Lilladher. He expects gold to consolidate at $1,125 levels.

"Gold demand could pick up if prices fall by Rs 1,000 from current levels," said Mr Vaid of Prabhudas Lilladher.