Gold prices are increasing at rocket speed in India. There is no stop to the on-going increase in gold rates. Gold prices on Tuesday zoomed Rs.360 to a record high of Rs15,200 per 10 grams in Indian Bullion Market due to the impact of the downturn of global market and falling of Indian Rupee.

The yellow metal was always in demand and it increased its popularity as the investors at the international markets kept buying gold amid worsening global economic outlook, said Ranjan Mukherjee of Kolkata-based Shipra Gold.

Gold prices increased at a rate of 30 percent in the past three months. The gold at Multi Commodity Exchange of India Ltd (MCX) was traded at around Rs15,200/10 grams for the month of April,the highest since the bourse began trading the metal in November 2003.

According to a report from the Bombay Bullion Association, the apex gold trade body in the country, the India’s gold import in February was zero and Imports in January slumped to about two tonnes from 24 tonnes a year ago, the association said.
Ranjan Mukherjee blamed the weak economy, high prices and the weak rupee for the downfall in the imports.