Monday, January 10, 2011

Indian Physical Gold Demand Strengthens Up

According to a report by the Economic Times, Indian gold demand is growing stronger as harvest and wedding season approach.
"The good response has been continuing from last week. I sold about 1 tonne of gold last week," said a dealer with a state-run bullion importing bank in Mumbai....

"I am expecting good sales to continue today as well at $1,370-1,375 (an ounce)," said the dealer with the state-run bank. Weddings in India, the world's largest consumer of yellow metal, will re-start next month.
The demand was unaffected by thr rupee's fall halting.

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