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Silver glut swamps India as prices surge

Slowdown in Indian demand contrasts with the global market as investors pile into silver-backed exchange-traded funds, pushing up assets 8% since the start of January
Monday, July 18, 2016 - 05:50
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Silver imports by India are set to plunge from last year's record as jewellers grapple with slowing demand and excessive inventories after domestic prices climbed to the highest levels since 2013.

Mumbai

SILVER imports by India are set to plunge from last year's record as jewellers grapple with slowing demand and excessive inventories after domestic prices climbed to the highest levels since 2013.

Overseas purchases probably slumped by about 40 per cent from a year earlier

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