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AMZN 229.51+1.5%12:16 PM EST

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To: GST who wrote (145738)8/19/2002 12:54:28 PM
From: H James Morris  Read Replies (1) of 164684
 
>>India, the world's largest consumer of gold, has cut imports of the precious metal by nearly half because of the sharp rise in global prices in recent months.

Indians love the yellow metal and it is associated with just about every social event from marriage, engagement and child births to birthdays.
Local consumption was enough to take care of the domestic demand therefore the imports had come to a virtual standstill

Mukul Sonawala
Bombay Bullion Exchange
But with gold prices running at a five-year high, demand has taken a hit.<<

news.bbc.co.uk
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