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POSTED ON July 13, 2021  - POSTED IN Key Gold Headlines

Gold has served as a lifeline for Indians pummeled by the economic storm caused by the government response to the coronavirus pandemic.

The Indian government’s response to the first wave of COVID-19 ravaged the economy. As a result, many banks were reluctant to extend credit due to fear of defaults. In this tight lending environment, many Indians used their stashes of gold to secure loans. As Indians battle the second wave of COVID-19, many Indians have now turned to selling their gold outright in order to make ends meet.

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