Gold prices rise as global stock markets nosedive

Mumbai-India (Jan 6)  Gold breached the $1,200 an ounce level after trading range-bound for about two months as global stock markets nosedived after oil prices plunged below $50 per barrel for the first time in five years and worries deepened that Greece might break out of the eurozone.

 The precious metal traded up two-fifths of a per cent at Rs 27,142 per 10 gm on January 6, reflecting the $5 an ounce rise in the metal on overseas exchange Comex.

Source: EconomicTimes