"There is good buying at current levels as the dollar/rupee has fallen, which us helping demand," said a dealer with a bullion-dealing state-run bank in Mumbai....Also having an influence is the need to stock up for the Raksha Bandhan festival on the 24th of this month, and other festivals until November.
"Last week was good, we did good volumes from 27th onwards," said another dealer with a private bank. "All our orders got filled on Friday itself and by evening there should be a lot of advance orders," said the state-run bank dealer.
Monday, August 2, 2010
Indian Gold Buying Picks Up On Stronger Rupee
According to a report by the Economic Times, Indian gold buying rebounded because a strengthening of the rupee made prices cheaper in Indian terms.