Rally peters out

Domestic Review/Bullion

 For the first time since April 1996, gold breached the resistance level of $400 on Wednesday as dollar hit new low against euro and geo-political tensions increased. In the domestic market, spot price of gold almost reached all time high.

 Standard gold (10 gram) shot up to intra-week high of Rs 5940, but erased gains and settled today at Rs 5925. It still closed higher from previous Friday