New Delhi, July 24 (ANI): Indians, for whom gold is often the investment of choice, are slowly stepping up their bullion purchases after prices fell to a five-year low earlier this week. India and China are the world’s top gold buyers, after massive selling on the Shanghai Gold Exchange on July 19 helped drive down gold prices by 4 percent, traders braced for a demand perk up in India, or elsewhere in Asia. The last big slide in gold prices- a 13 percent drop in just two consecutive trading days in April 2013 – prompted weeks of long queues of Indians outside gold showrooms. However, this time, India’s gold appetite, which accounts for more than a fifth of global demand, is showing just modest gains. Although gold edged up from the five-year low as the dollar weakened on Thursday (July 23), the modest gains suggest bearish investors are still hovering in the market after an early-week rout led to bullion’s deepest loss in nearly two years.
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