Somasundaram PR, Managing Director of the World Gold Council’s (WGC) Indian operations, told Reuters on Thursday, that the demand for gold from India is likely to reduce from the previous year during the festivals in the December quarter, in the wake of a surge in the Indian gold prices to five-year highs. Key Quotes (via Reuters): “Demand is expected to be muted due to a steep rise in prices. It is likely to be at the lower end of the 700 to 800 tonnes range.” “This year’s seasonal increase could be moderate, though, due to a liquidity crunch, rising local prices and impending elections in some key states that could impact trade logistics.” “Monsoon rainfall was deficient in some pockets of the country and that could hurt demand as well.” “Demand for gold coins and bars, also known as investment demand, rose 11 percent in the quarter to 34.4 tonnes as the volatility in the stock market and lower prices lured investors.” “But investment demand could moderate again in the December quarter due to higher prices.” “Normally stock market volatility helps gold demand but now higher prices are working as an entry barrier.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China: Stimulus with a weaker yuan – ING FX Street 4 years Somasundaram PR, Managing Director of the World Gold Council's (WGC) Indian operations, told Reuters on Thursday, that the demand for gold from India is likely to reduce from the previous year during the festivals in the December quarter, in the wake of a surge in the Indian gold prices to five-year highs. Key Quotes (via Reuters): "Demand is expected to be muted due to a steep rise in prices. It is likely to be at the lower end of the 700 to 800 tonnes range." "This year's seasonal increase could be moderate, though, due to a liquidity crunch, rising… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
