Gold touches $1000

Reports state that India gold futures reached higher marks today. There has been high volatility in trading in the Indian markets today and it is anticipated that gold trading may run on higher grounds between Rs. 15,640- 15,900, reports say.

The movement of gold futures in India is highly sensitive to the international trends and often is seen moving in the reverse direction to the dollar. The U.S. gold futures touched a six-month high to $1,000 an ounce and spot gold touched reached a six-month high. The movement of gold prices are being attributed to the weakening of the dollar, anticipation of an inflation and concerns over the stability of the recovery being seen in the global economy at the moment. The yellow metal has overall been considered a safe investment against the unstable economy.