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This is an archive article published on April 26, 2011

Gold losing glitter?

Prakash expects gold price rises to be capped while silver prices are likely to hit 60 an ounce by the end of June.

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Spot gold extended its rise on Monday to hit a record high for a seventh consecutive session at 1,518.10 an ounce,before easing to 1,517.60.

Prakash expects gold price rises to be capped while silver prices are likely to hit 60 an ounce by the end of June.

Prices of gold should firm up this year and I don8217;t expect them to go up very much,said Prakash.

The state-run company has offered discounts 0.2-2 percent on gold and 5-10 percent on silver wares for the upcoming Akshaya Tritiya on May 6. Indian companies traditionally make special offers to customers around festivals to pump up buying.

Akshaya Tritiya is India8217;s second-biggest gold buying festival after Dhanteras.

 

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