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Gold Demand in India Heads for Quarterly Record After Price Drop

Gold demand in India, the world’s largest buyer, is heading for a quarterly record after prices slumped to a two-year low in April, the World Gold Council said.

India’s gold imports will be 300 to 400 metric tons in the second quarter, almost half total shipments for all of last year, the London-based industry group said in a report. Gold auctions run by the State Bank of Vietnam were fully subscribed and some retailers in Japan ran out of stock, it said.