Gold, silver climb on global cues
Source: PTI Gold prices surged by Rs.180 to Rs.29,430 per ten grams at the bullion market on Saturday, tracking a firm global trend and pick up in buying by jewellers and retailers amid wedding season demand. Silver prices also edged up by Rs.50 to Rs.38,700 per kg on higher demand from industrial units and coin makers. Traders said that besides firming trend in bullion rates overseas, there was rise in demand by jewellers and retailers in the domestic market largely on account of weddings. Globally, gold rose 0.7 per cent to $1,234.60 an ounce in New York in Friday's trade as disappointing US economic data revived safe-haven demand. In the national capital, gold of 99.9 and 99.5 per cent purity strengthened by Rs.180 ...
High spend, growing middle class make India attractive market for foreign firms
Source: PTI India's growing middle class makes it an attractive market for foreign companies and the country's consumer spending is likely to more than double to US$ 2.4 trillion by 2018-19, said an Economist Intelligence Unit (EIU) study. According to EIU, the growing middle class offers potential for manufacturers and retailers. Moreover, rising income levels mean India's huge population of around 1.2 billion is becoming an increasingly important market for consumer goods, and this trend is likely to continue, it said. “Private consumption expenditure will rise from US$ 1 trillion in 2013/14 to US$ 2.4 trillion in 2018/19," the EIU report said, adding that a majority though would continue to be preoccupied with meeting their basic daily needs rather than follow ...
