BOMBAY (Reuters) - A sharp drop in gold prices have boosted demand in India, the world's largest market, and have caused a supply crunch, traders said on Wednesday.
The delivery time has risen to more than a week, compared with the normal two days and some agencies have raised their premiums on world prices, they said.
India, which buys more than two-thirds of its annual demand of 700 to 800 tonnes a year, only allows about two dozen agencies -- mainly banks and state-run trading houses -- to import gold.
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Source: Reuters By Atul Prakash