yes, it has crossed a record limit. On August 19th of 2010 the price for a sovereign (8grams coin) was Rs.13,960/- (per gram Rs.1745/-), where as on this 19th it is Rs.20,520/- (Rs.2565/- per gm).The increase works out to 47%.
In 2005 October the price was only Rs.5040/-.
But notice that this has not affected the sales. Rather the same is showing an increasing trend. In the quarter of April-June the sales figure is gold priced at Rs53,800 crore. In the same quarter of 2010 the sale price was only Rs.31,730/-, The increase is 38%, the value also shows an increase of 70%.
T.M.Sankaran
Gold Member, SPK