The Holiday season in India has led to an increase in demand for gold. The Holiday, which is called Dhanteras and falls every year in late October or early November, is a very important event for all followers of Hinduism. On this day people buy various metals, including the precious ones. The Holidays in India will continue on this week, therefore the amount of physical purchases will definitely grow.
The value of gold is also affected by the strengthening of the US dollar, but at the moment it looks quite stable, so the demand for the metal will be maintained.
The price of gold has managed to increase by 0.1%. Traders have a great opportunity to earn on the growth of the metal throughout the week. Trading will be available from 03:00 to 20:00 GMT time.
The news is only for informational purposes and cannot be construed as an offer or indication of the commission of certain transactions in the financial and commodity markets.