BULLION-Price Upsurge

BULLION Price Upsurge THE bullion scenario that has emerged over the past few months provides an interesting study, intriguing in many respects. Few had ever imagined that the market could perform the way it has. The rise, particularly since the beginning of October, has been unprecedented, staggering and bewildering. Viewed against the background of the havoc wrought by the drought in several parts of the country and its possible repercussion on the fortunes of the rural community, the phenomena] upsurge in the prices of precious metals has confounded even the most experienced and shrewd market observers. The spectacular rise in prices is by no means the only striking aspect of the bullion scenario. Equally significant is the marked decline in smuggling activity despite the record spread between the prices of gold and stiver in India and abroad. And no less intriguing are the reports about the extraordinary nature of transactions