The World Gold Council (WGC) has indicated a lowered demand for gold in India, during the coming season due to gold prices reaching a 28-year high of $759.90 an ounce. WGC had forecast the gold imports in India to rise by 40% to 1,000 tonnes for 2007. According to Ajay Mitra, managing director of WGC India, in 2007 India is now likely to import around 800-900 tonnes.
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