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Article posted: 2/24/2013 6:08 AM

Baubles to bars: India gold culture defies curbs

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An Indian woman looks into a mirror as she tries out gold jewelry at a shop in Mumbai, India. The unquenchable appetite for gold coins, bars and jewelry has swelled India's trade deficit and weakened its currency, making crucial imports such as fuel more expensive.

Associated Press

An Indian woman looks at a display of gold jewelry at a shop in Mumbai, India. Nowadays, India is by far the world's biggest buyer of gold, which despite its rising value, is an increasing drain on an economy that is growing too slowly to reduce widespread poverty.

Associated Press

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Nowadays, India is by far the world's biggest buyer of gold, which despite its rising value, is an increasing drain on an economy that is growing too slowly to reduce widespread poverty. The unquenchable appetite for gold coins, bars and jewelry has swelled India's trade deficit and weakened its currency, making crucial imports such as fuel more expensive.