Appetite for gold in India is unmatched

KOCHI (Commodity Online): Gold has metamorphosed from its position as a jewel to a precious investment thanks to the booming prices of the yellow metal, says the All India Gems and Jewellery Trade Federation.

The Federation that is organizing a gems and jewellery show in Kochi in Kerala said that the fondness for gold is all-pervasive in villages like the southern India state. For instance, Kerala’s Koduvalli village has 150 jewellery shops.

“The appetite for gold and jewellery in India is unmatched. Precious metals are associated with almost all religious ceremonies across the country, beginning from the time a child is born,” said the Federation.

The second Kerala Gem and Jewellery Show 2009 organized in Kochi is attended by bullion traders and jewelers from across the world.

In Kerala, the gold jewellery sector has an annual turnover of around Rs 12,000 crore and supports nearly 2 lakh workers.