Tuesday, April 23, 2013

There Was So Much Demand For Physical Gold In India This Past Week, Retailers Struggled To Keep Up

There Was So Much Demand For Physical Gold In India This Past Week, Retailers Struggled To Keep Up
News Link  •  Gold and Silver


04-23-2013  •  http://www.businessinsider.com, Joe Weisenthal  
  From Reuters: 
A customer looks at bangles before purchasing them at a gold showroom in the southern Indian city of Kochi April 19, 2013. Gold rebounded above $1,400 an ounce on Friday as strong buying of coins and bars continued, primarily in Asia, but prices were still on course for a fourth week of losses after a brutal sell-off. Gold retailers struggled to cope this week as parents buying dowries, casual shoppers and tourists snapped up bars, coins, nuggets and jewellery as a slump in the price of the yellow metal released years of pent-up retail demand.

 
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Reported by Robert Lee

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