Shining bright: Record high prices to weigh on demand for gold

Domestic prices are up 8 per cent in the last fortnight; international gold price trades around $1,970 after breaching $2,000 on Monday

The demand for gold is expected to take a hit if the price of the yellow metal -- which has been hovering around Rs 60,000, a level never seen before -- remains elevated.

Because of a sharp increase in price in a very short time and the flow of smuggled gold continuing, gold price in Mumbai is quoted at around Rs 59,000 per 10 gram.

Typically, overall demand in the January-March and July-September quarters is moderate-to-dull, which is the case in the ongoing period. However, this along with prevailing high prices ahead of April-June quarter, which is strong due to