Thursday, April 28, 2011

Indian Physical Gold Demand Still Robust Despite High Prices

According to a Reuters report webbed by the Economic Times, traders were still buying gold even though the price leapt up yesterday.
"Buying is still there. I booked for 50 kgs at $1,529/1,532 (an ounce). I am closely looking at $1,530, as I have a large order there," said a dealer with a state-run bank in Mumbai.
A stronger rupee helped cushion the price increase, giving buyers a bit of a break.

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