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

Gold rush a speed-breaker in India’s growth story

Posted on 05 September 2011

The glitter of gold is taking the shine off India’s growth story. According to World Gold Council, India’s gold imports rose 60% in April-June 2011 from a year ago, as people snapped up the timetested hedge against inflation. India has always been a huge gold consumer, but the yellow metal is now our second-biggest import, behind crude, up from fifth place in 2007-08.
But, this fascination with gold could be a reason why growth seems to be flagging. Money locked up in the yellow metal effectively disappears from the economy to become jewellery or sits idle in bank lockers………………………………………Full Article: Source


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VRS - who has written 48800 posts on Opalesque Commodities Briefing.


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