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UBS Gold Sales to India Rise 23% So Far in 2011; Demand ‘Robust’
Jun. 22, 2011 11:45AM PST
Precious MetalsBloomberg reported that India’s strong demand for gold has pushed up gold sales from UBS AG (NYSE:UBS) to India.
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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