Friday, 12th November 2004 (2414 views)

Retail buyers in India are moving towards buying gold coins, according to the India Times.

According to the latest figures, Mumbai has seen an estimated sale of around 800kg to one tonne of gold coins.

Dinesh Parekh, ex-director, Bombay Bullion Association, said: "There has been an unbelievable sales of gold coins with people wanting to invest in coins rather than ornaments."

The demand for gold has increased considerably over the last few days, thought to be due to the festive season and over 15,000 gold coins were sold on the Indian festival of Dhanteras.

It is thought that many small and medium businesses have taken to purchasing gold coins to give to employees and associates.

Coins are becoming attractive to buyers since they are convenient for retail customers, they are more affordable and they are sold by credible agencies.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.