Gold imports in india increased by 200 percent

Gold imports in India have increasd a lot in the last few months due to various festivals. In addition, many are buying and hoarding the precious metal in anticipation of future economic crises and rising prices. News The Print.

At present, there is an aggressive trend of buying gold among the relatively richest people in India. At the same time, the country’s poorest families are taking loans on gold mortgages due to extreme insecurity and in most cases these families are losing ownership of their mortgaged gold by failing to repay the loans. Analysts say it signals India’s uneven economic recovery amid the epidemic.

Sunbd/NJ