Retailers are buying gold in a big way:Gold came down by 10 thousand per ten grams from its highest level, due to lower price, demand increased in entire Asia including India

 Gold prices are at a nine-month low. Gold demand is increasing in India, Malaysia, South Korea and China as prices fall. Retailers are also buying gold in a big way to meet the increasing demand of customers. India imports almost all its gold. Gold has become cheaper in the country due to reduction in import duty. Weddings season is about to begin. Customers want to buy more and more at reduced prices.

Seema, who came to buy gold bangles in Jhaveri market in Mumbai, says that the price of gold has come down considerably already. I have been thinking of buying gold bangles for myself for a long time, I think this is a good opportunity to buy gold. According to estimates, in February 2021, gold purchases in India reached the highest level since 2019.

In Malaysia too, the purchase of gold has increased in terms of marriage and investment. Retail investors have also started collecting cheap gold in South Korea. According to research by a firm called Metal Focus, gold jewelery consumption in China is expected to grow by 28 per cent in 2021. According to Chinese retailers, sales had almost doubled in the Lunar New Year. Gold biscuits are available at a premium in Singapore, Hong Kong and Thailand.

It was zero in April-May, 59 tonnes of gold imported in February

Gold prices have become economical
, due to Kovid-19, gold had reached the highest level of Rs 5,6000 per ten grams. The current prices seem affordable. Paint up demand is increasing. If the price of gold will be in the range of 44 to 47 thousand rupees per ten grams, then the purchase will also continue. More or less than this can cause problems.
- Surendra Mehta, National Secretary, IBJA