UBS Gold Sales to India Rise 23% So Far in 2011; Demand ‘Robust’

Bloomberg reported that India’s strong demand for gold has pushed up gold sales from UBS AG (NYSE:UBS) to India.

The market news is quoted as saying:

Gold prices have climbed 8.6 percent this year, and reached a record $1,577.57 an ounce on May 2, extending gains for an 11th straight year. Bullion imports by India surged to a record in 2010, driven by jewelry demand and expectations prices would continue to appreciate, according to the World Gold Council.

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