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INDIA UPDATE
Bloomberg/Swansy Afonso/10-9-2019
 “India’s festival of lights is bringing little cheer to jewelers in the world’s second-biggest gold consumer.”
USAGOLD note: We see these stories from time to time talking about dwindling demand in India based on anecdotal evidence. When the hard numbers come out they tell a different story. Demand for gold remains strong in India mostly because the currency is losing its purchasing power while the gold price continues to rise in rupee terms.
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