Mr Colin Shah, MD, Kama Jewelry
“The demand for gold usually rises during the festive season. The yellow metal holds great cultural and sentimental value in the country. Buying gold is considered highly auspicious during the festive period. This makes our country the largest consumer of gold in the world after China.
Since Dhanteras and Diwali are approaching, we expect the demand for gold jewelry to remain upbeat compared to last year. The elevated price will not have much of an impact on festive buying. Geopolitical tensions and a low interest rate regime will likely support gold prices. In terms of prices, the gold price is expected to touch USD 3000/Oz in the international market, upwards of INR 80,000/10 gm in the domestic market in the near to mid-term.”
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