gold demand in india remains bullish

  1. 22,691 Posts.
    Gold demand in India remains bullish
    Reuters, New Delhi

    Demand for gold in India, the world's largest importer, is expected to remain bullish because of strong buying during the last leg of the wedding season and softer global prices, traders said Monday.

    The buying of gold jewellery which forms an important part of Hindu marriages as parents give the metal to their daughters for financial security, will continue in February before slowing in March when the auspicious period for marriages ends.

    "The demand in January has been better than December because there were more auspicious days in the calendar," Rajiv Popley, a leading jeweller said from Bombay, the business capital.

    Gold lost more than $2 an ounce in Asian trade after the weekend election in Iraq ended without major violence.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.