Online Gold Buying Gets a Boost in India

Source: Mineweb, Shivom Seth (9/22/11)

"In a bid to woo customers, store operators hope online gold buying will have customers flood the Internet drawn by huge discounts."

Mineweb, Shivom Seth

The busy bylanes of Mumbai's largest gold market Zaveri Bazar wears a deserted look. Just last month, the epicenter of India's gold and diamond trade was a hive of activity, but business has slowed down for the gold community with most Indians observing a mandatory mourning period.

Though Indians have an emotional connection to gold, this is one fortnight when most shun the yellow metal given the inauspicious period.

In a bid to woo customers, store operators have hit on a novel scheme—online gold buying—and are hoping that customers flood the Internet drawn by huge discounts. . .View Full Article

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