Gold crosses 1600 USD Dollars
Overseas spot gold touched a record high, on course for its longest winning run in a minimum of four decades, reflecting persistent worries regarding the euro zone debt crisis and a growing threat of a US government default.
* The rupee edged lower, dragged by the euro's losses against the greenback and weakness in most Asian currencies, however traders said greenback inflows tempered the autumn.
* The rupee plays a very important role in determining the landed value of the yellow metal, that is quoted in bucks.
* India, the world's biggest buyer of bullion, is within the middle of the sowing season, when farmers, the standard consumers of the yellow metal, divert their savings to agricultural equipment and fertilisers. Traders expect physical shopping for to start out late next
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