Wednesday, January 5, 2011

Gold Drop Sparks Indian Buying

According to a report by the Economic Times, yesterday's slow-motion plummet sparked renewed demand from Indian stockists.
"There is renewed enthusiasm in market after markets crashed by $40 yesterday, I booked deals for 200 kgs from yesterday evening from $1,417 and below," said a dealer with a state-run bank in Mumbai.
This enthusiasm proceeded despite a weakening rupee.

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