Monday, May 16, 2011

Indian Physical Gold Demand Remains Weak

According to a Reuters report webbed by the Economic Times, demand was weak because traders are expecting a fall in the price.
There wasn't any change in buyers' perception. They were waiting for a correction in prices," said Ghanshyam Nichani of Dhanraj Jewellers based in Mumbai. "Wedding season wasn't enough to lift demand."
A weakened rupee didn't help new buyers' sentiment, although it was good for people who had already bought.

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