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Tuesday, 30th June 2009 (934 views)

Demand for gold is likely to be particularly high during the summer months, it has been observed.

According to the Financial Post newspaper in Canada, investors traditionally see the precious metal perform well over the period.

Much of this was attributed to demand in India, as jewellers need gold to prepare for the wedding and festival season - beginning in October and running until Diwali in November.

The news source explained: "The stage is set for exceptional purchases of gold by Indian fabricators this year as the economy in India is booming."

It noted that the precious metal tends to be at its strongest in Canada in the first week of February, as this is when the annual prospectors' convention takes place.

Alan Demby, chairman of the South Africa Gold Coin Exchange, recently revealed that demand for gold in India rose by 84 per cent over the course of 2008.

 

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