Higher Gold Prices Prompt Sales in India

Bloomberg reported that gold selling is occurring at a rapid pace in India as prices rise.

As quoted in the market news:

Gold in India climbed to a record on June 2 after the rupee fell to an all-time low against the dollar, while global prices are down 16 percent from a peak reached in September. The jump in scrap sales adds to evidence of slowing demand in India that may lose its spot as the world’s largest bullion market in 2012 .

Click here to read the full Bloomberg report.