India usually imports between 700 tonnes and 800 tonnes of the metal every year and accounts for about 20 percent of global demand.
In recent weeks, international gold prices have blazed a record-breaking trail on concerns about the declining strength of the dollar as the world’s reserve currency.
For brides-to-be shopping during India’s ongoing wedding season, which runs from November to the end of January, the high prices are a headache.
“We have to wear a lot of jewelry. The bride should always look special,” said Nupur Varshney, a 25-year-old teacher who will be tying the knot in January.
RSS