MUMBAI: With the status of gold as safe haven for investors rising, the world will see increase in demand for the yellow metal in the coming days.
Moreover, the stabilization of gold prices around Rs 14,500 to 15,000 per 10 gm has also helped the gold gain more.
As the prices have stabilised, till July demand for gold will rise and the imports will also go up, World Gold Council (WGC) officials said.
Interest in gold as a safe investment option giving better returns has also not reduced in the domestic market. Bullion traders said that 2-3 months ago the business had come down but has now increased.
Gold prices (have) stabilised and people have started returning to the markets. This year from January to March gold imports have been very little; however, from April-June there has been an improvement in imports.
In February gold had ruled at a high of Rs 15,800 per 10 gm, which led to people offloading their old jewellery for better returns.
Gold import in January stood at 1.8 tonnes. February and March saw no import. Import in the first three months of 2008 stood at 62 tonnes.
In April import increased to 20 tonnes, but declined to 18 tonnes in May.
Source : Commodityonline