Gold prices up as China and India purchases gold at a record pace.Albanian Minerals President and CEO Sahit Muja said that "The Global demand for gold remains strong despite increasing prices for the precious metal"
Gold futures were up $31.10, or 1.77%, at $1,789.10 an ounce. The gold price advanced to a $1,789.10 an ounce on Friday . The gold price was also boosted by slips in U.S., dollar value and European financial crises . China's and India’s physical demand for gold remains high despite the spike in prices Albanian Minerals President and CEO Sahit Muja said that "Strong demand for gold in China and India will continued to help gold prices". The buyers in India bought a record gold this Year one of the major Indian gold buying Diwali festivals. Albanian Minerals President and CEO Sahit Muja said that " The consumer in India and China increased purchases of the gold at a record pace in 2011. India is the world's largest gold consumer, followed by China. Albanian Minerals President and CEO Sahit Muja said that "The Global demand for gold remains strong despite increasing prices for the precious metal". India’s festival of lights brought a healthy amount of buying into the gold market while the people preferred to purchase gold coins this time instead of spending on jewelry. # # # Albanian Minerals is Metal Mining and trading Company one of fastest growing mineral company in Europe End
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