With the Indian festival season at it’s peak, India’s gold traders are preparing for a big boom sales in the demand for the metal. Traders across the country are now adding up their stocks as there is going to be a boom in sales in the upcoming week. The festive season is the time when the world’s largest gold market buzzes with sky rocketing sales figures.

Despite the high price of the metal, traders are buying in a big way. They have also been buying dollars as well as gold is a dollar quoted asset. India’s state-run trader MMTC Ltd projects an  import of  about 200 tonnes of gold during the current fiscal year due to huge demand seen in this  festival season despite high the Gold Prices.

However, the sharp rise of the yellow metal has taken gold jewelry beyond common man’s reach in India.

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