Indian Gold Demand Tails Off

That's according to a Reuters India report that says retail buying slumped because of two reasons: festival buying is dwindling and the price is too high right now.

India gold demand retreated on Wednesday afternoon as prices touched a one-week high on the back of festival-related buying, traders said.

This was a reversal of the buying by stockists seen in the previous two sessions as they prepared for the upcoming wedding season, they added.

Wedding-related demand will be given a boost by a lowered price, particularly a price below $1,100.


It's the same figure that's been mentioned for some time. It's not very relevant now, but it should cushion any declines below that level unless they're sudden.