Indians Buy Lots of Gold
In my last post, I blogged about how East Indians love their gold, especially during the Diwali season. Well, the numbers are in and unsurprisingly Indians bought more gold than ever for Diwali which occurs between the weeks of October 12 to October 17.
A total of 56 tonnes of gold were exchanged which is up by 5.7 percent. However, the Diwali season might not be the only motivator for the high volume of gold being bought. Many consumers, especially those in 3rd world countries, believe that gold is the only safe investment to shelter them from the unpredictable global market.
India is the world’s largest purchaser of gold and gold products.
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