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Monetize your Website or Blog with BidVertiser G old prices zoomed to a record high of Rs 34,500 per 10 gram with a biggest ever single day surge of Rs 2,500 in opening trade in bullion market today amid the rupee hitting historic low of 68.75 a dollar.      The current upsurge surpassed its record price of Rs 32,975 per 10 gram, set on November 27 last year, with its biggest ever single day surge as panic-striken investors rushed to purchase gold as a safe haven during current financial crisis when forex and equity melting fast. The rupee has been witnessing an unprecedented plunge in its value as it dropped to an all-time intra-day low of 68.75 per dollar today, while the BSE benchmark Sensex also declined sharply.      "The bullion demand has got a boost as the rupee hit fresh record low and equities tumbled, leaving no place for investors but to park their funds in gold as a safe-haven," Surender Jain, Vice Pr...

The rupee breached past 68 per dollar and shares tumbled on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets. The Indian unit recovered later. Foreign investors sold nearly $1 billion of Indian shares in the eight sessions through Tuesday - a worrisome prospect given stocks had been the country's one sturdy source of capital inflows, although net purchases so far this year still total $12 billion. The partially convertible rupee hit a record low of 68.75, down 3.7 per cent on the day, after posting its biggest daily percentage fall in 18 years on Tuesday. At 3.08 p.m., the unit was trading at 67.67 per dollar. "It is just impossible to put any realistic value to the rupee any more," said Uday Bhatt, a forex dealer with UCO Bank. The need to attract foreign capital is critical for a country whose record high current account deficit is a key reas...