The demand for gold has been on an upward trend thanks to increased wealth in emerging market economies in recent years. In countries like China and India, where gold enjoys huge cultural significance, demand has been growing steadily.
In China the precious metal has been traditionally used for saving. In India, the 2nd largest market for gold, the precious metal is used in a variety of ways, including the creation of jewelry. In fact, global prices for gold are highest in October, the Indian wedding season!