Is Gold losing its safe haven appeal by Mr. Prithviraj Kothari, MD, RSBL

Last week started with festivities for India as we celebrated the auspicious day of Akshaya Tritiya on 13th may. It is considered auspicious to buy gold on this day and hence the demand for gold on this particular day is expected to go up. But this year demand for gold was not as predicted. Whatever demand came in was mainly from retailers because the wholesalers and other bullion dealers had already made their purchases during the gold crash that was witnessed between April 12- April 16.
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