Gold trading in India continues to rise | Cyprus News | Al Jazeera

Gold trading in India continues to rise

As the price of gold continues to dip around the world, India is importing the commodity in tonnes.

    In India, gold's cultural value has always remained high, outweighing it’s economic value.

    While the global economy slows and some countries like Cyprus consider selling bullion reserves to keep afloat, India has been importing the commodity in tonnes.

    Gold has slipped from a high of nearly $2,000 an ounce a year ago to around $1,300.

    This is good news for the consumer.

    Businesses in Delhi have seen a marked upsurge in trade.

    An increase of as much as 200 percent in sales as customers buy gold for special occasions like weddings.

    Al Jazeera's Sohail Rahman reports from New Delhi.

    SOURCE: Al Jazeera


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