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NEW DELHI—Investors throughout the globe are hoarding gold in the Covid-19 pandemic. In usually gold-obsessed India, there’s a glut, as struggling households cease shopping for and begin hocking jewellery.
International traders have lifted the worth of gold to all-time highs this yr, making an attempt to get their fingers on extra gold cash, bars and exchange-traded funds. Many are looking for shelter in the commodity from the storm of coronavirus and geopolitical considerations, reminiscent of the U.S.-China relationship to November’s U.S. presidential election.
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