| The surge in gold prices after Britain’s vote to quit the European Union will deal a further blow to demand in India, the second-largest consumer, and may cut imports to the lowest in seven years, said Bachhraj Bamalwa, a director at the All India Gems & Jewellery Trade Federation.
Purchases from overseas are seen slumping to about 700 metric tons this year, Bamalwa said by phone from Kolkata on Wednesday. That’s a decline of 23 percent from 2015 and the smallest since the country imported 559 tons in 2009, data from the London-based World Gold Council show...............................................Full Article: Source
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