by Henry Bonner, Sprott:
India is the world’s largest consumer of gold… It is known for the elaborate gold ornamentation, religious offerings of gold at temples and gold-adorned brides at traditional Indian weddings.
But we also hear that the government has recently come down strongly against importing gold… On top of this, with a stagnating economy and weak Rupee, will Indians continue to pour money into gold? Or, like the Western world, will they prefer to keep savings at the bank? Will they spend it on real-estate or consumer goods instead?
Jayant Bhandari emigrated from India at the age of 36, and has been a contributor to Liberty magazine and the Mises Institute. Jayant worked in natural resource investing for US Global Investors for 6 years, and once worked at Casey Research. He writes in from India with an update on gold.
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