Indian Investors Make A Quick Buck

While Indian bullion bankers are sitting pretty with not a single sale having taken place in the last four days, the Indian investors are making a quick buck. There has been heavy selling in the local market, with prices having touched new highs on Friday at Rs 4,960 per 10 grammes. Ten-tola bars were quoting at a new five-year high of Rs 58,400. Gold closed on Thursday at Rs 4,900 per 10 grammes, up 10 per cent from Wednesday.

Said one foreign bullion bank official: