High prices and low demand hits gold dealers

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Mumbai, May 30, 2008 : With gold prices skyrocketing….. Indian gold traders are facing the heat. The yellow metal has already been hit by low-demand because of high prices.

Due to lack of any festive or marriage season, the demands are likely to remain low. The low demand of gold has further been hit by the onset of the lean season. Purchases for jewellery and investment fell by 50 percent during the first quarter of 2008.

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