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From: rubbersoul	9/6/2007 6:31:39 PM
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World Gold Council Ropes in Indian Jewellers to Boost Sales By Commodity Online 06 Sep 2007 at 10:25 AM GMT-04:00 BANGALORE (CommodityOnline.com) -- Gold may glitter more during this Dhanteras religious festival with the World Gold Council (WGC) deciding to rope in jewellers in South India also to boost sales. Until now Dhanteras has been a festival being observed in North India only. Now the WGC is planning to extend this to the southern parts of the country. The idea dawned on WGC following its success in spreading the Akshaya Tritiya festival in all parts of the country and among NRIs. Dhanteras is associated with the worship of Goddess Lakshmi and marks the onset of Diwali celebrations. India is of critical importance to WGC and the council hopes that having collaborative marketing initiatives will help boost gold consumption. WGC is now looking at roping in jewellers for the Dhanteras marketing initiative. Sales during Akshaya Trithiya have been on the rise and have touched 55 tonnes now. WGC is also looking at other festive dates like Pushya Nakashtram to launch its marketing programmes. WGC created a buzz around Akshaya Trithiya and helped to make it national when it was largely observed only in south India. Besides providing for convenience (EMI-linked buying), WGC was able to rope in jewellers overseas (notably in the Gulf) to also participate in these festivities. The significance of this push can be gauged by the fact that festive-related sales account for a sizeable chunk of bullion buying in India. WGC statistics indicate that for the 12-month period ended June 30, 2007, India’s bullion intake stood at 930 tonnes, making it the world’s biggest consumer. It is not just jewellery but even gold coins, commemorative releases and the like are finding a market in India. A growing middle-class should see gold consumption rise in the country, said experts. By arrangement with www.commodityonline.com. resourceinvestor.com

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