"Silver import in Gujarat jumps by 194% in 2011-12" 30April
There has been a sharp development of transfer of gold in Gujarat for the season 2011-12 as opposed to season before as a result of better profits on investment strategies in the jewelry.
According to the results released by the traditions department here, transfer of gold has improved by 193.76 % in FY12 when in comparison to 2010-11. In season 2010-11, 328.64 measurement tonne (MT) of gold, respected at Rs 1258 crore was brought in. While in the season ended April 31, 2012 965.423 MT of gold respected at Rs 5177.58 crore was brought in, a improve of 193.76 %.
"Owing to the steady improve in the gold costs over the last several decades many of the traders who previously used to get stocks and property have started committing in gold," Choksi said.
Also, improve in purchase power of individuals and development of demand from sectors have provided to the increase in transfer of the jewelry, he said.
"There is nearly 100 % development of individuals who want to get gold in the last 1-2 decades," Choksi said.
Another gold investor who did not want to be named said that since the investment strategies in currency markets and property were not giving good profits, many of the traders have moved to gold.
They have seen over 60 % development of traders wanting to get gold.
Also the physical trading has improved due to great costs of gold.
The spot price of gold in the Ahmedabad was estimated at Rs 55,830 per kg on Saturday.
According to the results released by the traditions department here, transfer of gold has improved by 193.76 % in FY12 when in comparison to 2010-11. In season 2010-11, 328.64 measurement tonne (MT) of gold, respected at Rs 1258 crore was brought in. While in the season ended April 31, 2012 965.423 MT of gold respected at Rs 5177.58 crore was brought in, a improve of 193.76 %.
"Owing to the steady improve in the gold costs over the last several decades many of the traders who previously used to get stocks and property have started committing in gold," Choksi said.
Also, improve in purchase power of individuals and development of demand from sectors have provided to the increase in transfer of the jewelry, he said.
"There is nearly 100 % development of individuals who want to get gold in the last 1-2 decades," Choksi said.
Another gold investor who did not want to be named said that since the investment strategies in currency markets and property were not giving good profits, many of the traders have moved to gold.
They have seen over 60 % development of traders wanting to get gold.
Also the physical trading has improved due to great costs of gold.
The spot price of gold in the Ahmedabad was estimated at Rs 55,830 per kg on Saturday.
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