India Gold Demand Sluggish Due to Strike

Reuters reported that gold demand in India was down as a nationwide strike affected many retailers. The one-day strike was organized as a protest against the sweeping government reforms announced last week.

A Mumbai-based dealer with a state-run bank commented:

Demand was weak. Jewellery shops were closed due to the strike. Some jewellers were buying from banks, but by and large buying was dull.

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