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India's gold investment demand surges above $10 billion in Q3, pension funds can now invest up to 5% in gold and silver ETFs
Record-high gold prices may be depressing jewelry demand, but they are only encouraging Indian investors to buy more bars and coins, with a record $10 billion purchased in the third quarter, according to Sachin Jain, CEO of India operations at the World Gold Council. Jain said on Thursday that gold has now become a mainstream asset as even Indian investors with little prior exposure diversify their portfolios and boost allocations to the yellow metal – and the trend is only expected to build. "We believe investors' interest in gold will continue and grow in the coming quarters," he said. Investment demand in India ... (full story)