After China dumps Gold, Don’t Count on India To Come To The Rescue

Blame poor rains or a lack of weddings, but Indians, for whom gold is the investment of choice, aren’t rushing to buy bullion after this week’s sharp sell-off.

India and China are the world’s top gold buyers and, after massive selling on the Shanghai Gold Exchange on Monday helped drive down gold prices by 4 per cent to a 5-year low, traders hoped demand would perk up in India, or elsewhere in Asia. Details