Silver Glitters in India as Record Prices Dull Gold’s Luster
- Silver imports surge 72% from year ago to 543.21 tons in Aug.
- Inbound gold shipments plunge to three-year low, data shows
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Silver is outshining gold in India.
Imports of the poor man’s gold jumped 72% from a year earlier to 543.21 tons in August, according to the latest available data from India’s trade ministry. In contrast, inbound purchases of gold plunged by an equivalent amount to 32.1 tons, the lowest in three years, as record high prices sapped demand in the world’s second-biggest consumer of the metal.