Now, with gold prices climbing every day, city jewellers believe the trend of buying precious metals in bulk will increase in the coming months, and so will the prices. By Diwali, they say, 10gm gold will be available for about Rs 25,000. Already, gold prices have jumped from the 2009 average ofRs 14,300 to around Rs 22,900 per 10gm as on April 30, 2011.
Jewellers in the capital say demand for solid gold has gone up ever since price of 10gm gold rose to Rs 20,000. "The sale of pure gold in the form of biscuits has seen a 20% to 30% rise as compared to last year," said Pankaj Soni, senior sales executive at Gitanjali Jewels in South Extension.
In 2010, the total demand for investments in gold rose by 60% to 217.4 tonnes as compared to 2009, reveals World Gold Council data.
India Increasing Its Silver Recycling
India is one of the countries that have been known for its high demand of silver these days. India is well known as one of the top importers and exporters of silver throughout the world. With silver being at is all time high, the Indian government is encouraging its citizens to be vigilant in the recycling of silver so that it can be turned into silver bars and make India a more attractive country when it comes to the precious metal. Read More...
Gold, silver now ‘solid’ investments
NEW DELHI: Gold and silver no longer propel the big fat Indian wedding. It's just not about decking up the bride with jewellery. More and more Delhiites are buying these expensive metals purely for investment purpose. It's become more like their bank fixed deposit with the markets bullish on the bullion. Now, it's no longer about the shining necklace or the ornate earring: it's all about the sleek gold biscuit or a silver bar. Read More...
Akshaya Tritiya low-key affair this time
The price will definitely affect our sales as there is a possibility of a steep drop in the quantity of gold that is bought by people this year," confessed Mohanlal Gupta, owner of Mussadilal Jewellers, Punjagutta, adding that his shop would offer no special privileges to its customers unlike in the past. "We may offer a discount on the total purchase depending upon the price of the object," he said. Other big names on the lane such as Tribhuvandas Bhimji Zaveri too share a similar sentiment. Not sure of how good business would be this time, staffers here said that the store is yet to take a decision on whether or not to offer discounts to its buyers. Read More...
The biggest possible barrier to India's growth
FY10 was a thumping year for the auto industry as sales volumes zoomed. Strong growth was seen across segments - commercial, two-wheelers, three-wheelers and passenger vehicles. This buoyancy continued in FY11 too, as total domestic auto sales volumes grew by a robust 26% YoY. This was led by healthy demand across both urban and rural areas. What is more, this growth was witnessed across product segments as can be evinced from today's chart of the day. That said, although growth has been robust over the past two years, whether this can be sustained going forward remains a challenge. This is on account of rising inflation which has led to RBI hiking interest rates and higher input costs. Read More...
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