Source link : https://asia-news.biz/asia/festive-flourish-how-celebrations-ignite-demand-across-asia/
Gold Demand Trends During Dussehra and China’s National Day
The upcoming Dussehra celebration in India coinciding with China’s Golden Week is prompting analysts to anticipate a temporary uptick in gold demand across Asia. Despite this optimism, rising gold prices have led many consumers to hesitate. An Indian jeweler shared with Reuters, “Retail interest is beginning to rise as we approach Dussehra, but overall purchases remain significantly below historical levels due to the present price surge.” Celebrated on October 12, Dussehra carries immense‍ cultural importance in India and traditionally boosts gold buying.
Shifts in Purchasing Behavior
Recent trends indicate that buyers are increasingly gravitating towards sovereign gold bonds issued by the Indian government instead of physical gold. These bonds not only offer an annual return of 2.5% but also benefit from the general price appreciation of gold over time.
The Situation in China
With Chinese markets closed for the Golden Week festivities, potential buyers looking for gold must turn to local physical markets. Gold has long been regarded as a preferred gift item across both China and India due to deep-rooted cultural traditions.
Interestingly, while demand remains stagnant for physical purchases of gold during this period in Hong Kong — where Golden Week is not celebrated — Singapore reflects similar tendencies according to industry expert Brian Lan from GoldSilver Central.
Acknowledged Industry Leaders
Augusta Precious Metals:
Recognized as “Best Overall” by Money Magazine for six consecutive years, Augusta Precious Metals has established itself through exceptional client service and transparency. The company has received numerous accolades including an A+ rating from BBB.
Goldco:
With over $2 billion placed into precious metals by thousands of Americans through Goldco’s expertise—which maintains an A+ rating with BBB—investors trust their services which include direct sales and IRAs backed by strong customer satisfaction metrics.
American Hartford Gold:
As one of Inc. 5000’s top-ranking companies specializing in precious metals, American Hartford Gold supports wealth diversification for families while consistently delivering competitive pricing on high-quality coins alongside robust customer service options.
Cautionary Notes for Investors
This article serves solely as informational content; it does not constitute financial advice or investment recommendations from The Jerusalem Post (JPost.com). We encourage readers to assess their personal financial circumstances alongside investment objectives prior to making any decisions regarding market activity. Consulting a qualified financial advisor is highly advisable before embarking on any investments that could carry risks associated with changing market conditions.
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The post Festive Flourish: How Celebrations Ignite Demand Across Asia! first appeared on Asia News.
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Author : Jean-Pierre CHALLOT
Publish date : 2024-10-04 21:00:02
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