Festivities News
Prices, inflation dent India gold festival demand
Spending on gold at this year's Hindu and Jain holy festival of Akshaya Tritiya in India has been subdued compared with the usual splurge, as families struggle with rising expenses and high prices for the ultimate status symbol. Gold consumption is likely to fall by as much as 50 percent to 10 tonnes at the festival on Tuesday, said Prithviraj Kothari, president of the Bombay Bullion Association.
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