The growth of market is significantly depends on the price of gold, silver and diamond. In current situation the prices of gold is increased day by day and achieved a remarkable high position now a days. According to the world gold council (WGC) was announced that 2010 was a very finest and remarkable year for gold. The demand of gold is increased by 9 to 10 % and reaches to the top level which highest among the last ten years. The Asian market is emerged a powerful growth and build a business growth in the market for gold and silver.In terms of the gold the demand for jewelry was the biggest contributor to gold demand, accounting for 54 percent of the total. That’s a 17 percent rise despite gold prices jumping 26 percent in many currencies. Gold demand for technology increased 12 percent. Surprisingly, investment demand declined 2 percent as investment in gold ETFs dropped 45 percent. Even with the drop, 2010 was the second-highest year on record in terms of investment demand.
The demand of the gold jewelry is increased in Hong Kong is nearly a 26 percent and hit the maximum record form last 10 years. On the occasion of the Chinese New Year the Chinese buyers are very much interested in buying a gold and gold jewelry and also make a investment in gold beside taking care of gold price. The purchases of gold jewelry accelerated and increased up to 25 percent during the fourth quarter. The demand of gold in china goes hand-in-hand with a rise in average incomes for Chinese citizens they servers as potential buyer of gold jewelry. The higher income groups to middle class both the interested in saving and investing money in gold. The WGC gold offered a very success full plan which offers a facility to Chinese customer to make a gold purchasing on regular basis. In fact, the four strongest markets for gold jewelry demand (India, Hong Kong, China and Russia) accounted for 60 percent of the entire jewelry market in 2010.
The India is come up as top potential buyer of gold jewelry in the whole world with on demand with more than 745 tons. China achieved second position with under just 400 tons and the third position is acquired by the U.S at 128 tons. While the pace of consumption has slowed in several countries, gold consumption for jewelry remains at elevated levels around the world.
In the year 2010 the demand of gold jewelry is nearly up to 47 percent., Indian gold ,diamond and silver jewelry demand rose 69 percent to surpass peak levels set back in 1998.Historically savvy gold buyers, India’s influx of buying implies an expectation that gold prices still have much higher to go. The WGC says that “Indian consumers appeared almost universally to expect that the local gold price was likely to continue rising.”