Singapore/Mumbai: Jewellers in Thailand cashed in gold as global prices extended gains for an eighth consecutive session on Tuesday, while a weaker rupee curbed buying interest in India, the world's main consumer, dealers said.
Jewellers in India are also watching the progress of the monsoon, which could set the tone for demand during the next festive season. Indian farmers, who depend on monsoon rains for a good harvest, contribute to more than half of country's gold demand.
"Business has slumped as prices are very high. They are all waiting for dips below Rs 30,000," said Lokesh Kumar Agarwal, Chairman of Brijwasi Bullion and Jewellers in the northern Indian city of Lucknow.
Gold on India's Multi Commodity Exchange struck a record at Rs 30,415 per 10 grams on the back of a falling rupee and after cash gold gained on hopes the US Federal Reserve may launch more measures to stimulate the world's largest economy....more
03:54 PM, Jun 19, 2012
New Delhi: Driven by good performance of agriculture and services sector, the Indian economy grew by 8.2 per cent in the third quarter of the current fiscal, up from 7.3 per cent in the corresponding period a year ago. According to the data released by the government on Monday, farm sector during the third quarter ending December, recorded a growth rate of 8.9 per cent, up from a decline of...
11:46 AM, Feb 28, 2011