Will demand for gold rise in India?

The gold market of India is considered as the biggest market in the world. According to the World Gold Council, there was decline in the demand for gold in India in this quarter. WGC says in a published reports that there market traded 17.7 tonnes of gold in this quarter in 2009.

In this quarter there is decline in the gold trade in India by 83 per cent as comparison to previous years tradings. The gold selling hit high despite high price during the festival times and particularly on the Akshaya Tritiya.

Despite the marriage season in India, the demand for gold is bit low due to the high prices. The traders and business men of gold trade had anticipated that there would more demand for the the gold. The global factors have been influencing the gold market in India. Any decrease in the gold price would boost its sales in Indian market, which will help Indian gold market.