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Sales of Gold Jewellery in India Soars

Stock Option Trading By Randy Chen

The largest share of final demand at around 70%/$44 Billion, comes from jewellery, accounting India, the world’s largest gold jewellery market by volume for around 555 t, followed in terms of consumption demand by the United States, the global second largest gold jewellery market with 306 t, China with 302 t, the Middle East (Saudi Arabia, Dubai), Turkey and Italy. Gold trade is a chief driver of economic diversification in the Gulf region, exported 287 t into the vigorous Arab and Indian markets. The industrial and dental uses account for around 12% of gold demand, while investment demand is estimated at 18%, around $11, 3 Billion.

Currency Day Trading Both gold jewellery and retail investment are reported to have increased 49 and 32 percent in tonnage in India last year.

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The economy is closely aligned with India's through strong trade and monetary links and dependence on India's financial assistance.

Forex Day Trading Feb 25, 2005 (AXcess News) Mombai - Both gold jewellery and retail investment are reported to have increased 49 and 32 percent in tonnage in India last year, according to a report issued by the World Gold Council.Thanks to India's booming economy, the total consumer demand for gold spiked 17 percent in 2004. While gold jewellery climbed 18 percent and retail investment rose 16 percent, the WGC said.

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Financial In Market Consumers were right to buy gold jewellery last year, having seen a rise in its street value of 63 percent between October and December 2004.

Stock Trading System WGC Managing Director Sanjeev Agarwal was quoted as saying, "Last calender year was the year of gold demand with the total consumer demand increasing seven per cent globally and 17 per cent in India in tonnage terms."

Day Trading Stock Tip With India's economy showing strong growth, consumers are most likely going to continue investing in gold jewellery, bullion and retail goods.

Financial Forex Forex Software Gold is permitted to be owned by Indian citizens and many find it a strong hedge on inflation and wavering foreign currencies, like the US dollar. The World Gold Council also predicts a strong year in 2005 for gold sales in India, citing energy and fluctuating dollar rates as the drivers behind retail investments. Advertisement

Stock Market Trading AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking business news. If you're not a member, consider joining now.

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