RE: SILVER/GOLD DEMAND/CHINA/INDIAIndia Leads Gold Demand And Is Set to Drive Prices Even Higher
India and China have been largely responsible for gold’s surge in the first half of the year, with the two highly populated nations accounting for 52% of global end-user investment and 55% of jewellery demand worldwide. Year over year growth in consumer demand was 38% in India, in the second quarter of 2011, compared to a growth rate of only 7% for the globe. This is only the beginning of the demand push for these developing economies.
India’s Festival Season Will Push Gold Prices Higher
As the second half of the year progresses, India is entering its festival season, where holidays and weddings, which are culturally linked to purchases of precious metals, can be expected to provide more demand and drive gold prices up. The second half of the year offers 54 days for hosting opportune weddings, according to the India’s major religions, compared with only 44 days in the first six months of the year. ... great time for me to buy in here!!!