Gold Bullion remains in 'heavy demand'

Gold Bullion remains in "heavy demand" in India, as the precious metal continues to attract interest from seasonal buyers.

That is according to the Economic Times, which reports that demand on the back of Akshaya Tritiya festival remains high, while other investors are motivated by the security that the yellow metal provides.

The news provider said: "Marketmen said gold remained in heavy demand for the ongoing marriage season and buying activity further gathered momentum on fresh inflows from investors looking for a safe haven."

Meanwhile, Vibhu Ratandhara, an analyst with Bonanza Commodity Brokers Pvt Ltd, has said that Gold Prices are – and will continue to be – directly affected by developments in the Eurozone.

He told Reuters: "Gold Prices are highly driven by the movement in the Euro prices these days and this will continue to play a role in the near future too."

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