The Hindu Business Line : Gold prices expected to firm up

Hyderabad, July 1 Gold prices are poised to firm up further and the yellow metal is likely to peak in the run-up to the festival season and the second half of the year, according to the All India Gems & Jewellery Trade Federation (GJF).

The Federation also believes that there are enough pointers to show that interest in gold purchase has revived after a lull last year.

Citing market trends and consumer interest, Mr Mohan Lal Gupta, Vice-President, Twin Cities Jewellers Association, said, “we expect this interest to sustain during the second half of this year”.

Addressing a press conference here today to announce a four-day Jewellery, Pearl & Gem Fair 2009 to be held at Hitex Exhibition Centre between July 9-12, Mr Gupta said South accounts for nearly 40 per cent of trade in the country.

Exports affected

The Managing Director of UBM India, Mr M. Gandhi, said though the domestic market has displayed clear signs of buoyancy, exports have been affected due to general economic slowdown in global marketplace.

The President of Hyderabad & Secunderabad Pearl Merchants, Mr Boorugu Mahabaleshwar Rao, and Mr Mohan Lal Gupta, said the second edition of the fair promises to open new business opportunities where more than 150 exhibitors have expressed their participation.

The participants include firms from Sri Lanka, Hong Kong, Thailand and Japan bringing in their latest design innovations. Apart from providing a glimpse of latest jewellery designs, the event is being projected as a platform for designers and offer business to business interface.

More Stories on : Gems & Jewellery | Andhra Pradesh | Gold & Silver

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