There is no stopping of the soaring price of gold. It has reached an all time record. Yesterday the price for a soverign was Rs. 17,630.
There seems to be two main reasons for the soaring prices. One, the price of the gold never comes down and hence it is a good investment. Second the tendency of Indians to accumulate gold as also make jewellery for the women to wear. And for the past few years the practice of males, young and old wearing heavy gold chains has come to stay.
Unless the present trend of aggressively accumulating is not changed, the price of gold is will go higher and higher.