High-end individuals still seek gold for wedding season

Gold jewellery demand is seeing a mixed buyer interest, following the fall in the Rupee and the rise in gold prices, reports say. The high-end consumers seem to be less or not affected by the economic challenges, and are booking orders for the wedding season. Besides these planned purchases from high-end individuals, retailers are noting that demand from the mass market has slackened and consumers within this segment are purchasing only for some family purpose if need arose.

Gold was at Rs 31,500 per 10 gm ,with the Rupee dropping to 65 against the US dollar.

Gold demand is also sensitive based on the different regional markets in India, with the eastern price-sensitive market exhibiting a wait and watch while the Southern markets are purchasing to the wedding season, reports add.