27 April 2013

Demand for gold jewellery increases as prices fall

KOLKATA: Plain 22-carat gold jewellery has made a comeback after one and a half years as studded ornaments recede in customer preference, particularly in eastern and southern India after last week's price correction. But buyers in the north and west are still buying diamond jewellery.
Vinod Hayagriv, MD of Bangalore-based C Krishniah Chetty & Sons, told ET: "Across south India, there is a trend to buy plain gold jewellery. They include all sorts of jewellery like bangles, necklaces, earrings, rings and others. There was a pent-up demand in the market during the past 16-18 months. But when prices climbed to 28,000 - 29,000 per 10 gm, people stayed away from gold jewellery. Now the price of 22-carat gold is hovering around 25,000 per 10 gm, the precious metal has again become affordable."
SOURCE: Sutanuka Ghosal, ET http://economictimes.indiatimes.com/

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