| “Gold prices rise on India’s Diwali demand,” said a UK newspaper story on Saturday morning. “Gold extends gains, buoyed by Indian festival,” agreed a report from the news-wires. It’s a nice story, simple and logical, but badly wrong.
The Hindu festival of Diwali brings the single biggest shopping day for physical gold anywhere in the world. International gold prices popped higher last week, adding 0.7% against even the rising US dollar, as the 5-day festivities culminated with the ‘festival of lights’ on Sunday...........................................Full Article: Source
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