Gold buyers flocking to market despite high prices
Press Trust of India / New Delhi Sep 17, 2009, 17:29 IST
Gold prices may be scorching at an all-time high of Rs 16,000, but it has failed to keep away jewellery buyers from making purchases ahead of the festive and marriage seasons in anticipation that the rates may shoot up further.
"The retail sales as well as the bookings for the wedding season have gone up as people, who were holding back on expectations of fall in prices, started purchasing thinking it might go up further as the season progresses," Mumbai-based P M Shah Jewellers' Dinesh Jain told PTI.
According to Jain, there is great excitement in the market. People have been purchasing the precious metal even during the 'Shradhh', an inauspicious fortnight according to Hindu mythology, which will end tomorrow, he added.
The gold prices today ruled at Rs 15,944 per 10 grams in the domestic markets and in the global market it was at $1,022 an ounce (28.34 grams).
All India Gems and Jewellery Association Chairman Ashok Minawala said, there is a change in mindset of people, who have shown their confidence in gold as an ornament as well as an investment option.
"In the first quarter of this year the jewellery sales have been slow, but since then the demand has picked up and is likely to remain positive till the rest of the financial year," he said.
We are Au gold dust/Dore bars seller from Bamako Mali West Africa.We are registered Licensed government export/import company and we are representing eight local gold mines here in Mali as registered company.
Our gold is 22karat and purity of 93.5% better,price is $17,000usd per kilo FOB and any interested buyer are welcome.
We have 250kilos in Malaysia.Contact us direct to konemetauxprecieuxsarl@gmail.com
Regards
Mr.Soumaila Kone
DEAR SIR,
WE ARE LOCAL MINERS IN POSSESSION OF AU METALS BEING GOLD DUST, BARS, NUGGETS, INGOTS AND DORY BARS, AS WELL AS DIAMONDS.
WE ARE DIRECT MINERS LOOKING FOR DIRECT BUYERS/BUYERS MANDATE TO COME BUY OUR PRODUCTS AT LMB DISCOUNT.
BROOKERS AND AGENTS ARE ALSO WELCOMED TO ACT AS OUR MANDATE AS WELL.CONTACT ME BACK VIA EMAIL FOR MORE DETAILS AND FCO.
REGARDS,
MR. PATRICK KWAME
local.miners@personal.ro
+233201332513
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