Jewelry Demand Aids Gold
TheStreet.co
By Simon Constable
TheStreet.com Staff Reporter
9/28/2006 3:33 PM EDT
Gold added to Wednesday’s gains Thursday, buoyed by robust jewelry demand.
Contracts for December delivery of bullion closed up $7.60 at $610.90 an ounce on the Comex division of the New York Mercantile Exchange.
“We’re moving into the wedding season for India,” says Kona Haque, senior commodities economist at the Economist Intelligence Unit in London. “I don’t think higher prices will affect demand in India; it’s quite price-inelastic.” Read more about Jewelry Demand Aids Gold …