gold chat, page-280

Dillinja,

Here's some pastes from a couple of Indian papers.

NEW DELHI -- India's wedding-season gold demand has nearly disappeared as the yellow metal's local prices have climbed to near-record levels because of a fall in the rupee's value, sparking a rush to sell scrap during the usually peak buying period.
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"There is virtually no demand for gold," said Prithviraj Kothari, president of the Bombay Bullion Association.

And:

However, the demand for yellow metal is likely to fall further. There has been sluggish demand for gold in the country because of prevailing high prices. Bombay Bullion Association president Prithviraj Kothari said that gold demand in August is expected to be down by 50% at 30-35 tonne compared to year-ago period.