Tuesday, 30th March 2004 (4925 views)

Jewellery traders and manufacturers are forecasting that gold demand will 'pick up' in April for the world's largest importer, India, thanks to the wedding season.

Gold demand peaked last month to 1,200 kg and April and May are normally the busiest months for marriages in India.

Rajiv Popley, a leading jewellery maker in Bombay, the country's financial capital explained to Reuters: "I expect buying to pick up in the first week of April because the marriage season is still continuing."

Asian dealers also believe that global security concerns would also help to boost buying and increase gold prices.

Reportedly Indian homes have about 15,000 tonnes of gold which have been collected through generations and the country as a whole has around 300,000 gold jewellery outlets.

 

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