Ann: Quarterly Report - June 2013 , page-33

This may be the reason

Kolkata, July 26:

Gold is likely to rule firm in the spot and futures market on Friday as the yellow metal gained overnight in the markets abroad.

The gains followed US data that showed there were higher jobless claims last week. This, the market feels, will result in the US continuing its $85-billion a month stimulus package.

But there are other signs that the base metals market has taken into consideration to drive up copper which could begin to tell on gold soon. US manufacturing data turned out to be better than what analysts expected and demand for products increased 4.2 per cent.