Tag Archives: Indians

Indians Buying More Gold Even as Worldwide Demand Remains Low

Indians are buying more gold even when the yellow metal is ruling at its all time high prices. Many experts were expecting that the price rise in Gold could impact the consumption of the precious metal but Indians have proved them wrong.

More people are buying gold and many of them buy it as an investment for long term. Global gold demand registered a decline of 11 per cent during third quarter of 2012. China and India are among major consumers of Gold. The gold purchases in China witnessed decline of 8 per cent during the same period.

Indian gold consumption went by 9 per cent in third quarter. The price of gold has been ruling higher in India due to rise in value of US dollar compared to Indian currency.

However, investors are finding gold as a safer investment and this has pushed the demand for the yellow metal. The recent trends in real estate market have been bearish. Due to lower returns on real estate investments, some investors are churning their funds and investing in Gold.

The demand for Gold coins and bars in Germany has witnessed steep fall. In Indian market, the price of gold was trading at Rs 31,596 per 10 grams.

Indians Slam Apple for Launching iPhone 4S at Much Higher Price than its US Retail Cost

The anguish and frustration of Indian mobile fascinates and users, who had long been waiting for the launch of iPhone 4S in India, erupted within a matter of few hours of announcement of the cost of iPhone 4S on the websites of Aircel and Bharti Airtel on Friday.

In no time, the social networking media was overflowing with comments disdaining the smartphone maker Apple. The launch price of iPhone in India is Rs 44,500 and evidently, it will be much more costly in India than in the rest of the world. Though various online shopping sites, like ebay, are claiming 10% off on purchase and shipment of iPhone 4S in India, the customers are fuming with the fact that the retail price of Apple iPhone 4S in India is much more than its retail price in the United States.

On micro-blogging site Twitter, comments started rushing in soon after the official announcement of the price was made by Bharti Airtel and Aircel. Some of the interesting tweets even mentioned few items that are shockingly cheaper than the latest smartphone by Apple.

A few of them included: LED television sets, one year’s petrol bill and return tickets plus three-day stay in Colombo/Dubai/Bangkok, etc. Tweets mostly condemned Apple for being harsh on Indian users, as the price of iPhone 4S in India is shockingly 35% more than that in the United States.

However, the situation holds no novelty for Apple or Indian users, for that matter. Starting from iPods, Apple products have always been priced considerably higher in India as compared to other nations like Singapore, Hong Kong and the United States.

While expressing his opinion in this regard, an industry executive, who has long been eventful in monitoring response of Indian users for such international gadgets, said: “Most customers who wanted the 4S are internet savvy. They took price cues from other markets”.