The ascendency of India as an economic world power

Indian people are huge fan of gold and silver jewelry. In wedding ceremonies, you can find the bride getting a lot of gold. So, traders in this industry are supposed to have always happy time.

Well, things have not gone quite well in the last few months. In fact, the price of gold has increased a lot in the international market in the last few months and it has created a negative impact in the Indian gold business. Indian gold traders are now expecting that the gold market might just revive and they will be happy again.  

Reuters reported:

India's wholesale gold market saw a flicker of a revival in demand on Wednesday as prices eased, but dealers said majority of the buyers were waiting for a fall closer to the psychological 10,000 rupees per 10 grams mark.

"There are people asking for bullion now," said Ajay Singh, proprietor of Kiran Jewellers in Jaipur, who mainly operates in the wholesale business.

"But demand will really be there if prices come down further," Singh said.

 
Now, let us see when gold market gets its revival in India. India also exports jewelry. Many people are employed in the gold jewelry industry. So, any revival of the gold market will help thousands of small shop keepers.