Excerpt from: GFT Analysts in the News
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| August 13, 2008 | | Gold futures head higher after a dramatic low | After falling yesterday to lows not seen for seven months, gold prices are rallying right now in commodities trading. Gold prices have been sinking on a strengthening US dollar, as well as falling oil prices. A general decline in global commodities has been hitting demand.
However, the current gold prices rally is being fueled by investors who are buying now that gold is lower, and by jewelers who are demanding the precious metal.
Demand by jewelers is especially strong in India right now. Festival season starts soon, and gold jewelry is a traditional part of that in India. As result, jewelers are stock piling ahead of what is likely to be an increased demand in one of the world's most populous countries.
| Topic Tags: commodities trading, festival season India, futures trading, gold demand India, gold futures, gold prices, gold prices rally, spread bets gold prices, spread betting commodities | |
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