Gold Prices Soar, But Old Gold Sales Remain Flat Amid Festive Season
Gold prices have reached near three-month highs due to concerns in the US market, but old gold sales saw only marginal improvement in August, according to a report by IBJA.
Festive buying remained subdued for Raksha Bandhan, which is typically a peak period for gold sales.
The report noted that despite the price rise, old gold sales were flat in August. This may be attributed to the subdued festive season demand.