For Surender Kumar Jindal, one of the biggest sellers of gold and silver bars in India, this year has not been good for business.
In US dollar terms the gold price has rallied 20 per cent, putting it on course for its first annual rise in four years. For the Indian market that has contributed to a fall in demand for the physical metal.
Gold’s status in India, which stems from its role in weddings and use in rural savings, has helped make the country the biggest buyer of the bullion, so any slowdown is a worry for the industry.
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