India Tries to Restrict Gold Imports

Amid a worrying economic slowdown, India is trying to reduce its massive gold imports this year to shore up its finances. Traders and experts said the country’s deep cultural attraction to gold is not likely to weaken.
As gold shipments into India in June and July fell compared to the same period last year, Finance Minister P. Chidambaram sounded optimistic.
He hoped that total imports of the yellow metal this year would add up to less than the 845 metric tons bought last …

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