Despite the skyrocketing price of the yellow metal, gold demand is strong amid the religious festivals of India this October. And in 2009, banks are in the forefront, promoting the sale of Gold Bars and Gold Coins in India.
"Many banks in India have started major marketing campaigns to sell Gold Coins and bars," says Sanjeev Mehta, a bullion dealer in Mumbai.
"People in India are buying more Gold Bars and coins, as well as buying gold in the form of jewelry, which are no longer considered the best investment option."
He says gold jewelry items always come with extra 25% work duties and thus are costlier than coins and bars.
Bullionvault.com
