Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Indians Keep Buying Gold in Off Season

  by    2   0

Indians aren’t deterred by a slump in the gold price. Even in their gold “off season,” Indian jewelry and gold stores continue to sell the yellow metal unabated.

Neither finance minister P Chidambaram, nor the fear of a bad investment is deterring people from buying gold. In fact, the sharp dip in prices has only brought more customers to jewellers though some are waiting for gold to slip even more.

Dismissing the minister’s plea to refrain from buying gold for the next few months, people are giving in to the lure of the yellow metal. ‘This is off-season for us but sales continue to be normal,’ said Alok Bhattacharya, store manager of B.C.Sen Jewellers in Gurgaon. With a few months to go before the onset of the wedding season, when gold sales gain momentum, sales should be mostly stagnant now. ‘Some people are unaware of the dip in gold prices and the possibility of a further dip (which could lead them to postpone purchases). So, our sales have not been affected,’ said Ajay Bali, store manager of Tanishq, Gurgaon.”

Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Dollar Down 20% Since 2020, Biden Blames Greed

Assuming CPI measurements are not understatements, the dollar’s value has plummeted by a staggering one-fifth since 2020, yet, rather than acknowledging its role in fueling this economic turmoil, the Biden administration deflects, casting capitalism and corporate greed as the villains. The latest February CPI data show more signs of the upcoming inflation bloodbath.

READ MORE →

The Myth of Fed Neutrality

Powell follows the president's wishesThe Federal Reserve is often viewed as a neutral guardian of the economy, tasked with safeguarding employment and ensuring stable prices. However, the Fed is run by individuals who, like anyone else, are swayed by certain motivations. Do the people behind the Fed truly have the incentive to remain impartial? Our guest commentator demystifies the […]

READ MORE →

Massive Deficit Spending Tows US Economy Forward

A truck titled "US gdp" tows along another car, the US economyRampant government spending continues to mask fundamental weaknesses in the US economy. Recently, national debt grew much faster than the economy for the third quarter in a row, just one of many warning signs concerning legendary investors. Our guest commentator explains just how much the government is spending to make the economy seem strong, even […]

READ MORE →

Gold Hits New All-Time Record High

Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold […]

READ MORE →

Ten Recurring Economic Fallacies, 1774–2004

In a compelling guest piece by American historian H.A. Scott Trask, various economic myths are scrutinized and debunked through insightful historical analysis. The article delves into #10 prevalent misconceptions, providing a nuanced understanding of economic principles. Similar to other reality-based historians, Trask’s perspective serves as a valuable guide in dispelling lies and fostering a more […]

READ MORE →

2 thoughts on “Indians Keep Buying Gold in Off Season

  1. Chad says:

    I don’t think that with the way the dollar index is fluxuating that it is unreasonable to think that gold will rise to 1,350 an ounce or even 1,400.

    • goldpriceth says:

      While fluctuations in gold prices might not be as volatile as local currencies, the value of gold always stabilizes over time. Never forget that gold reserves are diminishing each year and this makes this precious metal gain value overtime. I think this is one understanding that investors should not overlook, and especially when it buying gold for long term profits.

Leave a Reply to goldpriceth Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Call Now