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because India will sell gold, just as Turkey did. Ah, yeah.
However, India has more gold than any other country – 25,000 tons in its citizens’ hands (feet, round neck, ears, noses, belly buttons etc) and I’d guess with a collapsing currency they won’t be selling – quite the contrary, methinks.
India had about 880 tons of official reserves at the end of March.
Tank bottoms could easily provide more sell pressure on gold as other countries run into currency crises.