"Soaring Gold Price Makes It Uncommon for The Common Man", It is beautiful, useful, and never wears out.
Every individual, although he may not need the gold, is a potential gold buyer.
Moreover, gold jewellery is deeply connected with the culture, traditions and religions of India.
To have this precious metal, is every woman's dream.
But as the gold prices are soaring, the desire of the common man to possess it perhaps needs to be postponed for some time.
The price of gold hit a 25-year high touching USD 637.
The reason mostly is the huge amount of investment being made into precious metals.
5 purity) shot up by Rs 50 per 10 gram higher at Rs 9,345 from Rs 9295 of yesterday (27/04/2006) while pure gold (99. 9)
At the same time, the price of gold in the international market rose by USD 3.
30 as investors took gold as the safe haven during the time of rampant inflation and global disturbances of many a kinds- political and apolitical.
Gold is chosen as the best alternative option to invest into by the investors who are worried and quite apprehensive over current market situations.
are some major factors that raise insecurity among the investors.
It is well expected that the gold price will soar when the world economic state is going through such a hard situation.
The economic rise of China and India is one of the major factors that drive the global inflation to rise incessantly.
India is the largest gold jewellery consuming country in the world, followed by China and the Middle East.
This will, in turn, cause the price of gold jewellery to rise.
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The nuclear conflict with Iran is another biggest cause that drives the Inflation to be rampant.
The prolonged violence in Nigeria and the recent Zimbabwean government's announcement that it might take control of foreign-owned mines etc are the other political reasons that creates uncertainty in the state of world economy.
They believe that, there are vast walls of money going into all the commodities, and gold and silver are benefiting at present.
The World Gold Council, a trade group for mining companies, estimates that in 2005, the demand for gold as an investment has increased by only 26 per cent and exchange traded funds have increased the buying of metal ( in tonnage) 53 per cent more.
And it is expected the gold price will touch $800 by the year-end.
Of these 800 tonnes, two-thirds is imported.
According to The Mumbai Mirror, the Demand for gold jewellery, mainly from retail investors, was up 47 per cent in the second quarter of 2005 against the corresponding period of the previous year.
Daughters are gifted gold by their parents as a security for their financial future.
With marriage season round the corner, the steep hike in gold price has come as big set back for all those gearing up for gold purchases.
It is likely to keep casual buyers and middle class customers away from jewellery shops for some time.
Rather than buying new gold jewellery, many people are now choosing to recycle their gold jewelry into new designs for the festival season.
It is also expected that the high gold price will have an effect on the April 30th festival- Akshaya Tritiya in India.
To lure the customers, many banks in India have loans for purchasing gold jewelry.
That banks are willing to loan on gold jewelry is a reflection of the importance of gold jewelry in an Indian woman's economy and traditions.
Thanks to some innovative trends in investment, gold-the eternal and largely immobile store of value is now soaring.
At least for now, gold is the place for some of the fastest-moving cash in the world.
And soaring price makes the yellow metal to shine more and more.
Now, the precious metal has become uncommon thing for the common man.
Gold price reach 25-year highby Vikas Bajaj, http://www.
com, April,06
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