Indianos estão a vender maciçamente ouro

Os privados indianos estão a vender maciçamente ouro, devido ao preço que o metal precioso atingiu, noticia The Art of Jewellery, o principal magazine especializado no país. A Índia é o maior importador mundial de ouro:

“In some areas consumers are selling more than jewellers,” said Bachhraj Bamalwa, chairman of the All India Gems & Jewellery Trade Federation.

Prices advanced after the rupee plunged to an all-time low against the dollar last week. Global prices for spot gold are down 16 per cent from the peak reached in September.

The jump in scrap sales adds to evidence of slowing demand in India that may lose its spot as the world’s largest bullion market in 2012 to China, according to the World Gold Council. “Physical buying is not there, because prices are very high,” said Ketan Shroff, a director with Pushpak Bullions Pvt. in Mumbai. “Everybody is selling. Even retail investors who had invested at lower levels are sellers right now.”

India’s gold demand may fall 4 percent by volume in 2012 and gain 4 percent by value, Morgan Stanley said in a May 31 report. Volume demand will decline 13 percent in urban areas and 4 percent in rural areas, it said. Scrap sales will continue until prices come down, the jewellery federation’s Bamalwa said.

On the National Spot Exchange Ltd., India’s biggest bourse for physical metal contracts, demand for gold and silver fell by about 20 percent to 25 percent this year because of higher taxes and prices, Chief Executive Officer Anjani Sinha said today.

Gold demand in India fell to 207.6 tons in the quarter ended March 31 from 290.6 tons a year ago, after the government increased import duties, the World Gold Council said on May 17. Investment demand dropped 46 percent and jewellery demand fell 19 percent.