FROM ISSUE #96 (31 MAY 2002 - 06 JUNE 2002) | TABLE OF CONTENTS
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Uncertain politics and a volatile investment environment, combined with the wedding season rush, have pushed gold prices to their highest levels since the mid-1990s. Ten grams of the yellow metal traded for a high of Rs 8,475, closing in on the record of Rs 9,040 in early 1996. Traders said the higher prices had kept demand low, except for people looking for bars to invest in. The demand for jewellery, which shoots up during the wedding season, has fallen to even lower levels than normal. The latest hike in prices from around Rs 8,200 for 10 g comes alongside a rise in international prices, which reached $321.10 per ounce on Friday.