India is crazy about gold. But can the love last as prices skyrocket?
Indian households' voracious appetite for the yellow metal s being tested by a combination of global and domestic factors, not least among them the US-China trade war, weakening economic sentiment at home and abroad, and China and Russia's to stockpile the commodity. The steep rise in prices is hurting demand in India, the world's No 2 market for gold, behind China. Nearly two-thirds of India's gold demand comes from rural areas. However, early this month, the price of 10 grams of 24-carat gold hit a record high of 39,885 rupees in India's domestic bullion market though, in recent days, the price has eased somewhat. continue reading.
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