Saturday, April 26, 2008

India’s Gold Demand Rises

India’s gold demand improved ( on Tuesday as gold prices lowered. If gold prices fall further, dealers expect a true rush to occur.

Local gold prices, which mirror international trends, fell due to overseas weakness. As gold prices decrease demand for gold increases. The lower the gold prices go the higher the desire for gold. Ashwin Choksi of Jamnadas M. Choksi Jewellers said, “There could be some more improvement in demand if prices come down to 11,000 rupees per 10 grams.”
The demand for gold has risen about 10 percent in the last few days due to falling goldprices, said a dealer at a large private bank.

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