Capital Gold Group Report: Demand for Gold Surges Despite Rising Prices
27 Apr, 2008, 1135 hrs IST,
PTI
BANGALORE: This price rise has raised no heckles, on the contrary the market is as glittering as ever with both buyers and sellers scrambling to make maximum out of the prevailing situation.
Yes, we are talking about the bullion market where gold prices have zoomed by about 35 per cent in a short span of five months. But such a sharp jump in prices astonishingly has not had any dent in physical buying of the metal.
Jewelers say the age-old notion of high prices deterring sales have been proven wrong in the case of gold. They said high prices are attracting even more buyers as they see gold as the safest investment options with attractive returns.
"In fact, whenever there is volatility, sales go up. The sales being inversely proportional to the price is very old phenomenon, which does not hold good today," Bangalore Jewellers' Association President Mahesh Pati told PTI.
With returns being assured, gold in increasingly seen as the safest bet and its traditional role as ornaments is a bonus.
"With globalization and IT revolution, people have deep pockets and they are spending on gold not just for adornment but as an investment also," Pati said.
Capital Gold Group, gold group, gold, gold new, gold prices, gold bullion, gold coins, IRA gold, gold IRA
BANGALORE: This price rise has raised no heckles, on the contrary the market is as glittering as ever with both buyers and sellers scrambling to make maximum out of the prevailing situation.
Yes, we are talking about the bullion market where gold prices have zoomed by about 35 per cent in a short span of five months. But such a sharp jump in prices astonishingly has not had any dent in physical buying of the metal.
Jewelers say the age-old notion of high prices deterring sales have been proven wrong in the case of gold. They said high prices are attracting even more buyers as they see gold as the safest investment options with attractive returns.
"In fact, whenever there is volatility, sales go up. The sales being inversely proportional to the price is very old phenomenon, which does not hold good today," Bangalore Jewellers' Association President Mahesh Pati told PTI.
With returns being assured, gold in increasingly seen as the safest bet and its traditional role as ornaments is a bonus.
"With globalization and IT revolution, people have deep pockets and they are spending on gold not just for adornment but as an investment also," Pati said.
Capital Gold Group, gold group, gold, gold new, gold prices, gold bullion, gold coins, IRA gold, gold IRA
