Gold demand in India rose last week due to the festivals of Dhanteras (29 October) and Diwali (31 October), Commerzbank’s commodity analyst Carsten Fritsch notes.

Gold demand weakens again

“However, due to the record high prices, the increase was smaller than usual, as Gold traders reported. Taking into account the much higher price level, however, the value of sales was significantly higher, according to one trader.”

“The share of bars and coins in total sales was higher than usual, as many buyers were not willing to pay the increased production costs for Gold jewellery.”

“Towards the end of the week, demand apparently weakened again, which is why traders offered a discount of $5 per troy ounce on the official price. Just a few days earlier, they were still charging a premium of $1.”
Dear friends, before Diwali we did a wave of advertising and media interviews with us, advertising in a number of media this is undoubtedly a manifestation of the strength of the company and affirmation of our expansion in the Indian market, but also affirms the development of our company's determination to develop the Indian market, we will continue to invest in the future in the advertising, expected to be Rs. 5,000,000 of an investment in the strength of the company to ensure that we are all After joining Kaya Gold, we have a sense of achievement, a sense of achievement and a sense of belonging. We will also give you a sense of security. We will continue to work hard to lead you together to create our own legendary business in India. We hope you will join us. Every progress is related to you and your interests.