Intriguingly, 60% of demand for gold comes from rural India especially during weddings.Įxperts, therefore, warn that reducing rural purchasing power, crop failure and a bad monsoon may hit gold sales. According to experts, gold prices are unlikely to rise in the near future due to an imminent hike in interest rates by the US Fed and Greece’s default crisis. Gold rates touched a 4-year low in India and over five-year low globally this year. Gold rates in Salem depend on several global factors such as gold imports, oil prices and strength of the dollar among others. We accept no liability for any loss arising from the use of the data contained on this website. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. *Disclaimer: Bankbazaar makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are susceptible to change with Market value and provided on an as-is basis.
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