Examples of Nydia, the largest gold consuming nation, the largest share of the world's total demand for jewelry (36%) and bar the total investment and the currency (22%) in 2010, according to the World Gold Council (WGC). In 2010 India imported 958 tonnes of massive gold.The world is watching this giant barometer of demand for gold in India up to a strong season for the purchase of gold, which begins in late August at the end of the monsoon season, and September at the beginning of religious ceremonies. These include festivals such as Diwali on October 26, marking an auspicious period for buying gold. The wedding season, which will begin in late October to December last year, when parents and buy gold for the bride. In India, gold is not only a symbol of wealth, but also an expression of family security and stability.
In Q4 of 2010, according to the World Gold Council increased 47% in the demand for jewelry to 210.5 tonnes in India, compared to Q4 in 2009, which stems not only from the holiday season but also to the expectation of rising prices, which demonstrates the strength of investment demand. Rajesh Mehta, Chairman of Rajesh Exports Ltd., expects to buy gold jewelry, coins, medals and bars to climb 25% to 250 thousand metric tons in the three months ended on 30 November this year.
