| From Commodityonline.com: With the festival and marriage season at its peak, India’s gold traders are busy preparing for hige rise in demand for the yellow metal. Traders across the country from Kochi to Kolkata are now adding to their stocks as they see a big boom in sale sin the coming weeks. India celebrates Diwali, an auspicious occasion to buy gold, on November 5.
The traders are buying gold in a big way despite the high prices of the metal. Demand is still there for gold, traders have been buying dollars in the market as well. Gold is a dollar-quoted asset, and as India, the world’s largest consumer of the yellow metal, imports majority of its requirement, the rupee plays an important role in determining its landed cost..............................................Full Article: Source
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