Demand for gold exports from India rose by almost ten per cent in 2010, it has been revealed.
According to the country's Gem and Jewelry Export Promotion Council, a third of the total jewelry exported last year consisted of gold.
The precious metal saw its value in the market rise from $8.6 billion in 2008 to $9.4 billion last year, representing a 9.38 per cent rise.
"After having undergone challenging times in 2008-09, the Indian gems and jewellery industry rose like a phoenix and is today experiencing [an] upward trend," said Vasant Mehta, chairman of the GJEPC.
One analyst has meanwhile predicted that a revaluation of the yuan will cause demand for Gold Investments in China to rise.
Edel Tully, a London-based analyst for UBS AG, wrote in a report that the rise would see gold become better value for money in yuan.
"And if the yuan revaluation is interpreted as a signal of government confirmation that inflation is indeed a problem, this would likely boost golds appeal," he added, Bloomberg reports.
For the very best Gold Prices live online plus secure storage of your physical property in Zurich, Switzerland for one-third the cost of an exchange-traded gold fund, click through and register with BullionVault now...