With gold prices pushing northward aggressively, the gold accumulation schemes offered by jewellers have started finding takers again.
Gold prices are currently ruling at Rs 15,335 for 10 grams, after having reached an all-time high of Rs 15,745 on February 21, an increase of nearly Rs 3,000 in just 45 days.

Chennai, Feb 20: Go

India witnessed 84 per cent increase in gold demand for the fourth quarter of 2008, proving it as a safest heaven for investment after the plunge of share market and low interest rate regime following global financial crisis.

Gold demand surged to 147.2 tonnes in the fourth quarter in 2008 from 80 tonnes a year earlier, as per data collected by Gold Fields Mineral Services, an independent consultancy, for the World Gold Council (WGC).

Gold prices in the domestic market touched a new peak level at Rs 15,650 following increase in its prices in the international market due to heavy purchase by investors.

The precious metal started rising after the breakout of global financial crisis due to failure of leading financial institutions in United States. Global slowdown propelled investors to invest in gold considering it as a safest mode of investment due to plunge of stock markets and low interest rate regime.

Continuing its journey towards making news heights, gold on Thursday made a new record high of Rs 14,900

The gold prices increased 4.6 per cent to Rs 14,146 per 10 gram due to large interest of investors in the yellow metal in the midst of economic uncertainty and strong position of dollar against other major currencies. The prices touched a three-month high of $930 an ounce in the international market, confirming it as the safest investment mode under current economic environment.

An analyst with Anand Rathi Commodities, Subodh Gupta said, "The economic uncertainty in Europe, and the strong dollar is making gold attractive as a safe-haven investment rather than a hedge against inflation."