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Deveya Gaglani, Research Analyst - Commodities, Axis Securities, said, "Gold prices ventured into unchartered territory above the Rs 70,000 level for the first time in history. Prices made a new lifetime high of Rs 70699 after the NFP data print from the USA."
ECB Governor Christine Lagarde, however, recently struck a dovish note saying rapid wage growth was already showing signs of slowing in the eurozone
Manav Modi says: "According to a recently released annual report, gold by the end of the year could test levels of $2,260 per troy ounce on the COMEX and Rs 69,000 per 10 gram on domestic bourses. For silver also, its demand as an industrial metal has increased in the past few years and hence any uptick in overall infrastructure or growth could benefit metals prices as well."
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Average price of 10 grams of gold is around Rs 62,000