Rajesh Exports Says India Gold Demand ‘Moderate’ as Prices Rally

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By Tanya Ashreena

August 8, 2011 at 7:53 AM UTC

Rajesh Mehta, chairman of Rajesh Exports Ltd., India’s biggest jewelry maker and exporter, comments on gold demand after prices reached $1,700 an ounce for the first time.

Gold for immediate delivery jumped to a record $1,715.75 an ounce today after Standard & Poor’s cut the top U.S. credit rating.