Gold demand not to dip in India

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Kolkata, Oct 16 (UNI) Despite the prevailing financial crisis across the world, gold demand in the country is likely to remain stable during the Diwali season, a leading jeweller today said.

'' The present price fluctuation is a passing phase. This will not affect the demand of gold in Indian market during the diwali and the marriage seasons. The future of gold is very bright, '' Deputy Managing Director of PC Chandra and Sons said.

Observing that Indians always considered gold as a valuable investment option, Mr Chandra said the people were becoming more inclined towards gold even though its prices continued to fluctuate over the last few months.

To a question, Mr Chandra said the company, already having business in the US, Britain, Turkey, Dubai and Singapore, was not contemplating expansion to new overseas markets because of the fall in demand in the US.

'' However, we are concentrating on the existing market and will focus on strengthening retail outlets in the domestic market by adding six more in the next one year besides the existing 13 across the country, '' he said.

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