Another reason for the growth rate of gold – the world economic crisis. It is in a period of instability in international financial markets traditionally increases the price of gold as an ancient equivalent.
India.
“Sales have been abysmally low this year…there is an almost 50 percent dip in sales as compared to previous years and the sales never picked up after the strike was called off,” adds Goyal, referring to the three-week strike by Indian gold dealers that started in March after the government increased duty on gold imports and extended a sales tax to unbranded jewelry.
Indian gold demand could fall to 550 tonnes next year – compared to more than 900 tonnes over the whole of 2011 – new Bombay Bullion Association president Mohit Kamboj said Tuesday, adding that any import duty hikes could push demand down further.
So . Gold has to rise further. Watch.
