Tuesday, June 29, 2010

Indian Gold Demand Still In The Doldrums

According to a report by the Economic Times, gold demand is still weak in part because of the season but also because of continuing high prices.
"Now the prices are near 19,000 [rupees per 10 g]. Sentimentally, this scares demand. There is little activity today," said a Mumbai-based dealer with a private bank.

Demand might pick up as prices stay low, but so far there's no sign of it.

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