India used to be the largest consumer of gold in the world, but last year the Indian government placed strict regulations on gold imports in an effort to curb a growing trade deficit. These onerous restrictions slowed the Indian gold trade to the point where China has moved into the position of #1 global gold consumer. This short video from Bloomberg TV gives us a peek into India’s culture of gold that the government simply cannot suppress.
“For this country of 1 billion people, gold is, has, and always will be money – a reliable store of wealth in an unpredictable world.”
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