The demand for gold in India has recently risen as the Indian rupee has appreciated. With a stronger rupee gold become cheaper to buy. The gold spot demand has been on the rise for the past five sessions. Indias gold prices rose above Rs 17000 on Monday conforming to Healthy Financial Habits prediction of a rise in the price of gold. Early Monday morning we estimated a rise of Rs 95 by the end of the week to end at Rs 17900. We apologize for the typo but we are estimating the ending price this week to be around Rs17,000

The United States dollar has been falling off due to recent data released by the department of labor showing higher than expected job loss for the month of December. The news caused the dollar index to fall giving rise to the Indian rupee, boosting it to its strongest point in 15 months. With a higher rupee gold is cheaper to purchase.

In the past year India has imported an estimated 350 tonnes which is 150 tonnes more than expected. Gold prices had risen 25% during 2009 as the US economy weakened.

As of Tuesday, 7:00am gold hovering at 1717.15 INR 995/g

Check back with Healthy Financial Habits every Monday morning for your weekly gold price predictions. Here you will find current news, information and investment strategies that will assist you in making financial decisions. It is important to remember that consulting with a quality financial adviser is always recommended prior to making personal financial decisions.

Author: Greg Jackson