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Festival gold demand in India seen hurt by slowing economy

Posted on 18 September 2013

Gold demand in India, the biggest user, is poised to decline during the main festival season as the weakest economic growth in a decade curbs discretionary spending and volatile prices spur investor selling.
Sales of jewelry, coins and bars between August and November will be less than a year earlier because of the slowdown and a bullion shortage caused by central bank curbs on imports, said C. Vinod Hayagriv, managing director of C. Krishniah Chetty & Sons Pvt., a Bangalore-based retailer. He didn’t say how much gold was sold during festivals in 2012………………………………………..Full Article: Source


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