Friday, February 4, 2011

Indian Physical Gold Demand Slumps With Higher Prices

According to a Reuters report webbed by the Economic Times, demand has slumped due to higher prices and uncertainty about how gold will fare.
"It suddenly went up yesterday, to the last week's level. Prices took a big jump after a long time," said a dealer with a state-run bullion importing bank in Mumbai....

"Supplies could improve in coming weeks, premiums might ease by 50 cents," said another dealer with a state-run bank....

"There could be clarity with prices after the U.S. data," said the second dealer.

Certainly, those who bought when prices were below $1,330 have some reason to congratulate themselves.

No comments:

Post a Comment