Yep , I concur PNA Indian Weddings Demand for gold in jewelry...

Yep , I concur PNA


Indian Weddings

Demand for gold in jewelry will rise 9.1 percent to 69.1 million ounces in 2007 after falling 13 percent in 2006, New York-based CPM Group, a commodity researcher, said in its annual outlook report in March. Consumers were adjusting to higher prices, CPM said. It forecast gold prices will rise 6 percent this year to a record average of $645 an ounce, boosted by demand from jewelers, CPM Group said.

Indian demand typically rises in the wedding season, which runs from late September to December. Jewelers also buy the metal for the Hindu festival of Diwali, or the Festival of Light, which starts at the end of October.

``Most of the price gains will be visible in the third and the fourth quarter,'' Si Kannan, head of research at Kotak Commodity Services Ltd., said last month. ``After the monsoon in the third quarter, during the Diwali season and the marriage season in the fourth quarter, probably one could see gold prices shooting up to $800.''

Full Story 20/05/07
http://www.bloomberg.com/apps/news?pid=20601091&sid=aYnQFt.TQLtg&refer=india