The price of gold grows influenced by the high demand in India!
India is back to being the top spot as consumer of gold. The country has overtaken China, its main competitor. Throughout 2014, India consumed an impressive quantity of gold coins, jewelry and, certainly, investment gold bars. Jewellery demand grew by 14%, making India the leader in this regard.
In November, the consumption of gold reached the highest level - 39 tons. This growing was experience during the Diwali festival, one of the main national holidays and the wedding season that increases every year the sale of jewellery.
In experts' opinion, one more reason for the increase of this precious metal demand was the short-term reduction of gold prices.
Now locals are sure of prompt development of the Indian economy due to the Prime Minister Narendra Modi's plans about changes in the restrictions in the local gold market to avoid the illegal trafficking in precious metals in the country.
Now the attention of the Central Banks of many developed countries and farsighted investors has been focused on gold. Due to the growing prices of gold, this precious metal is the best asset to preserve and increase capital. This is the very moment in which it is possible to buy gold at an affordable price. The clients of Emgoldex take advantage of this situation buying gold in the online store of the company with the most favorable conditions.
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Category: Gold news Publication date: 2015-02-03 12:14
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