Mumbai : Gold traders wary of fresh deals as prices hit one-month high

Reuters

Mumbai, 22 July 2013 :  Gold traders in India, the world’s biggest buyer of the yellow metal, refrained from striking fresh deals on Monday as prices rose to their highest in more than a month.

 

 

Gold imports into India fell about 81 percent in June from the previous month after the government raised import duty and stopped consignment imports.

 

"Demand has slowed down," said Suresh Jain, director of Bombay Bullion Association, adding that if prices fell sharply, traders would stock up for upcoming festivals and weddings, which start in mid-August and peak with Dhanteras in November.