Gold prices currently standing at Rs. 17,750 per 10 grams, the lowest since last three months, have been witnessing a downward trend since last week, in turn encouraging an increase in buyers. The signs of stability noted in the global economy has helped reduce gold prices.
Although the current prices are higher by 25 percent over last year, they have dropped considerably since prices in June which touched Rs.19,000 per10 grams, encouraging buyers.
Retailers who are attending to a large number of buyers even prior to the festive season that hits the markets two weeks from now in India, the largest consumer of gold, predict a good festive season sale this year, with healthy demand atleast upto Diwali. The fall in gold prices witnessed since last week has been the longest phase of lowered gold prices this year so far and as prices decrease, retailers continue their efforts to attract and more buyers.