Gold prices have bottomed out for now: Shree Ganesh

Gold prices appear to have bottomed out, at least in rupee terms, feels Umesh Parekh, Managing Director, Shree Ganesh Jewellery. In an interview to CNBC-TV18, he says jewellers in India are looking at the weakness in gold prices to sell more.

Parekh says despite the steep fall in gold prices globally, the fall in rupee terms has been just around Rs 1000 per 10 grams because of the depreciation in the currency against the dollar.

He is hopeful that the downtrend in gold prices will encourage consumers to buy more of the yellow metal. Watch video for full interview