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Indians buy 52 tonnes of gold as prices drop from Rs 1.8 lakh peak to Rs 1.42 lakh

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Gold buying in India picked up as prices fell from a peak of Rs 1.8 lakh to around Rs 1.42 lakh, with buyers purchasing about 52 tonnes. The festive calendar supported jewellery demand, as Dhanteras fell on November 6 and Diwali on November 8. Both occasions came early in the month, a period when salaried workers usually receive their monthly pay and festive bonuses. Despite this recent surge, gold sales by volume had dropped by nearly half in the current fiscal year through September.

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