..................And while it is true that Indian jewellery buyers purchase more gold when the price falls, the Indian government is increasingly anxious to curb their demand. With gold imports accounting for between a quarter and a third of the country's swelling trade deficit, in recent weeks the Reserve Bank of India jacked up import duties and banned loans to finance gold imports for domestic consumption. As a result, emerging demand from Asian consumers is unlikely to be strong enough over the coming months to convincingly reverse gold's downward trend. For now at least, the yellow metal has definitely lost its shine.
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