Gold demand in anticipation of festivals in India.
As it was written before, India is one of the few countries where there is great love for gold jewelry. Neither wedding nor celebration are completed without this precious metal. The wedding season has already begun, and very soon, in late October, will be two more popular festival in India: Dhanteras and Diwali. These days are the most profitable for traders of gold and the gold market as a whole. All retailers replenish their reserves to meet the increased demand for jewelry. Regardless of the price of gold there is expected the increase of the gold demand in the range of 30% compared to the previous year.
In one of the publications of Economic Times of India there was noted that the trend of increasing demand is already evident in the Indian gold market for a few weeks. This, in turn, had the influence on the price of gold, which resulted to its fall. According to experts, in September it is expected to increase demand of the yellow metal up to 55 tons, compared with 47 tonnes of gold in August 2014.
According to the representative of the market, the country still continues to increase imports. Thanks to the low price of gold, among traders of jewelry is observed high activity. Regarding the investment interest, there will be noticeable only little changes by the end of the year because investors prefer to invest in shares at this stage. Due to the fact that now the gold market fully meets the demand, sellers reduce their margin on the precious metal, causing the competition. Therefore, the price of gold jewelry may fall, but investment gold, on the contrary, to grow.
This means that now it is the time to buy gold bars, while the price of gold is affordable. The clients of the Emgoldex company enjoy this moment. They buy gold in the online store of the company always at the best prices. Regardless of the season, online store meets all the needs of its customers.
Category: Gold news Publication date: 2014-10-07 16:01
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