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Gloom to boom: Gold gets its shine back for India's festivals

Precious metal's sales for full year seen recovering 5 per cent to about 700 tonnes from 2016

Tue, Oct 17, 2017 - 5:50 AM

India's decision to free customers from a requirement to provide their tax identity for every purchase above 50,000 rupees is a shot in the arm for the gold market.

PHOTO: AFP

Mumbai

UNTIL early this month, Indian jewellers expected the traditional surge in demand from the Hindu Festival of Lights in October to be muted.

The gold industry was struggling to cope with a slump in sales caused by a government crackdown on the black market, and efforts to...

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