Demand Falls for Gold; Price cut-down May be Observed
Has demand for gold gone down in India? Will it fall even more in coming days? ‘Yes’ is the answer given by experts of World Gold Council. The reduced import of gold in India also indicates that people’s interest in gold has lowered these days. While 200 tonnes of gold was imported during last four quarters in the country, 178 tonnes of gold has been imported during 3 months till the end of march. Only 60 tonnes of gold reached India during the month of may. The experts of World Gold Council say that there could be much reduction in gold imported in june and july as there are no auspicious days for weddings etc during the next four months.So, it is estimated there will be a cut-down in the price of gold. As per Commodity Exchange, price of 10 grams of gold today is Rs. 26,894.