Friday, January 28, 2005

High Prices Fail To Dent India's Gold Demand

NEW DELHI (Dow Jones)--Indian consumers seem to have resigned themselves to high gold prices and are no longer postponing buying jewelry in the hope of prices falling in the future.

"People have generally realized prices are not coming down to where they were a year ago. So they (are) buying jewelry, largely ignoring the rising trend in world gold prices," said Bhuwan Gaurav, head of north India operations at Tanishq, the country's largest branded jewelry retailer.

Read more here.

Source:Prasenjit Bhattacharya Of DOW JONES NEWSWIRES

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