Tuesday, June 22, 2010

Indian Gold Demand Still Weak, But Price Points Rising

A Reuters India report says Indian gold demand remains tepid, in large part because of a weakening rupee.
"A little booking is there, but not much to write home about," said a dealer with a state-run, bullion dealing bank....

"Orders are lying in the range of $1,230-1,235 (an ounce)," said a dealer with a private bank in Mumbai.

That's a step up from $1,200. Price acclimatization is beginning to set in.

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