Surging Gold Prices Push Indians to Rein In, Recycle

Reuters reported that high gold prices are slowing Indian demand.

As quoted in the market news:

Indians are usually the biggest buyers of gold in the world and from October to December, the calendar is full of festivals and weddings, creating many opportunities for people to flaunt their finery. But international prices of spot gold have risen 21 percent on the year, their 11th straight year of rises, and a weakening rupee is also increasing domestic prices.

Click here to read the full Reuters report.