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India’s gold, silver inventories pile up

Posted on 19 October 2011

Gold and silver sales are sluggish nearly three weeks into India’s peak festival season but will likely pick up Thursday because of an auspicious occasion, traders said.
“Showrooms are empty because liquidity is tight and people don’t have savings,” Prithviraj Kothari, president of the Bombay Bullion Association said Tuesday. “We are waiting for customers, but only inventories have increased as people had stocked up in anticipation of the festival season.”………………………………………Full Article: Source


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