India Tries to Curb Its Gold Appetite

A vendor shows gold bangles to a customer at the Zaveri Bazaar in Mumbai, India Photograph by Dhiraj Singh/Bloomberg

For many Indians, there’s one certainty when it comes to investing: Buy gold. India is the world’s biggest importer, purchasing 863 tons of gold last year, according to the World Gold Council. India’s gold imports were 28 percent of global gold purchases in 2012, ahead of China’s 830 tons, or 26 percent.

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