Indian Retail Gold Buying Strong As Prices Stay Steady

According to a Google India report, gold buying at the retail end continues to be fairly good:

India's retail gold buying continued on Tuesday afternoon as prices stayed in the vicinity of their recent lows, prompting consumers to buy for a local festival, traders said.

"Yesterday we saw good showroom sales especially on the coins front, and there were some buyers in the morning as well, and expected to increase by evening, when the auspicious time starts," said Ghanshyam Nichani, properietor of Mumbai-based Dhanraj Jewellers.

However, the high price of gold is prompting consumers to buy lighter pieces rather than heavy bridal sets.