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Commodities Briefing - Categorized | Bullion/Gold, Trends more

Gold bulls may face austere Indian festive season

Posted on 07 October 2013

Last week’s two percent decline in spot gold prices is not discouraging gold bulls who’re turning their sights on Asian demand, which they say remains resilient and is set to strengthen on seasonal buying from India.
However, softer economic growth from Asia’s third-largest economy, a depreciating Indian rupee and limits placed on gold imports aimed at reducing U.S. dollar outflows in a bid to improve the trade gap and narrow the current account deficit may mean the tone of celebrations – and gold purchases – from the world’s biggest gold consumer are a little less extravagant this season………………………………………..Full Article: Source


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