For India All that Glitters Is Gold as Festival Nears

Source: Reutersáá(10/26/07)

...Indian imports to August were nearly double the same period the previous year, but a jump in prices since September has led market watchers to trim their import forecasts for the whole year to 800 metric tons, still a record, from about 1,000 metric tons...


...As India is the world's biggest importer of gold, analysts keep a close eye on the country's consumption for hints at the future price of bullion. Last year the country imported 715 metric tons of gold, including 207 metric tons during the festival buying period.

Indian imports to August were nearly double the same period the previous year, but a jump in prices since September has led market watchers to trim their import forecasts for the whole year to 800 metric tons, still a record, from about 1,000 metric tons.

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