Silver is outshining gold in India.

Imports of the poor man’s gold jumped 72 per cent from a year earlier to 543.21 tonnes in August, according to the latest available data from India’s trade ministry. In contrast, inbound purchases of gold plunged by an equivalent amount to 32.1 tonnes, the lowest in three years, as record high prices sapped demand in the world’s second-biggest consumer of the metal.

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