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Gold demand improves as prices ease
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reuters india on 01 December, 2007 06:59:00
 
MUMBAI (Reuters) - India's gold demand improved on Friday as prices softened,
dealers said.
"The demand is picking up as prices have come down a bit," said Ashok Gupta of
Delhi-based Ganapati Traders.
There could be some more improvement in demand due to the marriage season, he
said.
Dealers said many of their clients were choosing to exchange scrap gold to buy
new items of jewellery.
"Normally one has a limited budget for gold jewellery and if the prices sustain
at higher levels the quantity of buying comes down," said Ketan Shroff, director
of Pushpak Bullions Pvt Ltd.
India's busiest festival season is already over, but the ongoing weddings
season is expected to be a big trigger for gold sales, they said.