India’s gold market update: festival acts as a catalyst for demand

From gold.org

Gold prices have eased from their peak of mid-April, likely due to profit taking. Nevertheless high gold prices prevailed, ending April up 4% on the back of an 8% rise in March. Since mid-April gold prices have moderated 1% and have risen by 15% so far this year, trading at over US$2,350/oz at the time of writing. Domestic landed gold prices in India have followed the movement of international gold prices owing to the relative stability of the INR vs the US dollar. chart Festival alongside price moderation stimulates demand After a generally weak March and April, there was a resurgence in gold demand ahead of and ... (full story)