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Gold demand to revive at Rs 14K
Last Updated: 2009-03-31 19:03:53
Mumbai: India's gold demand is expected to revive if prices fall by atleast 10.5 per cent from the current levels, a top official at ScotiaMocatta said on Monday.
Demand would revive "if prices come anywhere between Rs 14,000-14,300," said Rajan Venkatesh, managing director, India bullion, ScotiaMocatta, on the sidelines of a conference.
At 1:15 p.m., Scotia Bank quoted gold at Rs 15,470 per 10 grams.
"There will always be some demand," said Venkatesh, commenting on the current demand situation.
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There were hardly any imports in the February as price-sensitive buyers stayed away from making fresh purchases, according to Bombay Bullion Association (BBA).
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India's imports fell to around 395.8 tonnes last year compared with 759 tonnes in the year-ago period, according to data from BBA.
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