India’s government has long sought to decrease the appetite of its citizens for gold and silver which are integral parts of the nation’s culture. These precious metals are imported at extraordinarily high levels and are seen as “dead assets” that dry up foreign exchange that could be used to buy more productive imports. Higher duties have been placed on gold and silver to lower consumer demand for them, but if the monsoon rains soon reach normal levels, demand could once again spike upward, as LIGNET explains.

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