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Gold’s price plummet puts smiles on India’s government and brides alike

India’s government, long concerned with the rise of its current account deficit, expects the recent fall in gold prices to help; even as others continue to buy like there is no tomorrow.

by Shivom Seth, MineWeb.com

It would seem that Indian brides and the country’s government have something in common, both are both are elated that gold prices have been sliding.

While the sharp decline in gold prices is set to have a favourable impact on the Indian economy, with its high current account deficit and the overall balance of payment situation, Indian brides have been waiting for just such an occasion.

Though some weddings are fixed for December, the precious metal’s biggest price drop in three decades in April has provoked a mad clamour for the most ostentatious jewellery design on retailers’ shelves. More grams for less, is the new motto!

Read More @ MineWeb.com

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