At Rs 62,000, gold at a new high

Two days after the price of gold scaled a six-month high in the international market, the yellow metal went past the Rs 62,000/10gm mark in India. For the first time, gold was trading at around the Rs 62,250-mark in Mumbai's bullion hub. A host of global and domestic factors, including weakness of the dollar against some of the major currencies, a sharp fall in US gilt yields, and the higher demand during the ongoing wedding and festive seasons, are supporting the price of gold, market players said.