Friday, 26th August 2005 (3000 views)

Gold prices have started to rise in anticipation of the Indian wedding and festival season.

Gold sales are also expected to be high in the Middle East according to Paul Walker, GFMS's chief executive.

"Every single Asian market is up. Indian offtake has risen and gold demand in the Middle East has been higher," he told Reuters.

European sales of gold were not as healthy, but demand has risen a little in the UK.

Gold is the metal of choice for Indian couples about to marry as during Hindu marriage ceremonies the bride wears red and is decked out with numerous gold ornaments such as a nose ring, long necklace, earrings, mang tikka and hath panja.

 

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