Gold News

Indian gold demand rockets

Demand for gold buying has increased dramatically in India following a slight reduction in purchase prices.

Although the gold price has not dipped dramatically, investors have hurried to take advantage and make a purchase ahead of the release of more economic data that could increase prices again.

Prithviraj Kothari, director of Riddisiddhi - one of India's largest gold and silver bullion dealers - told Reuters people had been thronging through the country's Zaveri Bazaar in order to buy gold.

"There is a huge demand … in the last couple of days alone ten tons may have been sold all over India," he commented.

Mr Kothari noted that the most popular purchase was 100 gram bars for investment.

A report from the World Gold Council earlier his week showed that demand for gold has continued to increase worldwide, while the amount produced by mines has decreased.

This could be supportive of gold prices thanks to supply and demand fundamentals.

Looking to Buy Gold today? For direct access to live Gold Market prices - and to save up to 80% compared with coin dealers' fees - click through to BullionVault now…


See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals