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Tuesday, 30th March 2004 (6171 views)

Jewellery traders and manufacturers are forecasting that gold demand will 'pick up' in April for the world's largest importer, India, thanks to the wedding season.<BR/><BR/>Gold demand peaked last month to 1,200 kg and April and May are normally the busiest months for marriages in India.<BR/><BR/>Rajiv Popley, a leading jewellery maker in Bombay, the country's financial capital explained to Reuters: "I expect buying to pick up in the first week of April because the marriage season is still continuing." <BR/><BR/>Asian dealers also believe that global security concerns would also help to boost buying and increase gold prices.<BR/><BR/>Reportedly Indian homes have about 15,000 tonnes of gold which have been collected through generations and the country as a whole has around 300,000 gold jewellery outlets.

 

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