India's gold demand may drop 50pc
Thursday, 13 May 2010
NEW DELHI, May 12 (Bloomberg): Gold demand in India, the world's biggest consumer of the precious metal, may drop 50 per cent during this year's Akshaya Tritiya festival because of rising prices, trading company RiddiSiddhi Bullions Ltd. said.
Demand may decline to 20 tonnes during the festival, compared with last year's 40 tonnes, Prithviraj Kothari, director of the Mumbai-based company, said today in a phone interview.
Demand may decline to 20 tonnes during the festival, compared with last year's 40 tonnes, Prithviraj Kothari, director of the Mumbai-based company, said today in a phone interview.