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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Gold use in India gaining may weaken attempt to curb deficit

Posted on 21 March 2013

Gold use in India, the world’s biggest buyer, may climb for the first time in three years as rising incomes and inflation boost investment demand, undermining efforts to narrow a record current-account deficit.
Consumption may total 865 metric tons to 960 tons this year, compared with 864.2 tons in 2012, Somasundaram P.R., managing director of the World Gold Council for India, said in an interview in Mumbai. The gain in imports will match the increase in demand, he said. The country imported 860 tons last year, according to data from the council………………………………………..Full Article: Source


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