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Festival brings little activity to gold market as price rally hits buying

Meanwhile, demand was moderate in other major Asian centres

Reuters  |  Mumbai | Bengaluru 

A key festival brought little activity to the physical gold market in India this week as purchases remained significantly lower than normal with domestic prices jumping to the highest in more than two years. Demand in India, the second biggest gold consumer after China, usually strengthens towards the end of the year during the traditional wedding season and major festivals including Diwali and Dusherra, when bullion buying is considered auspicious. "Demand was better than last week but if we compare with last year's Dusherra, it was as much as 40 per cent lower in some ...

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First Published: Fri, October 19 2018. 17:07 IST
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