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Indian asset management companies restrict gold ETF inflows to curb gold demand amid a weakening rupee.
Indian asset management companies, including major fund managers like SBI Funds Management Ltd. and ICICI Prudential AMC Ltd., have restricted new investments into gold products. The move aims to curb demand for the precious metal ahead of the crucial festive season, against the backdrop of a historic decline in the Indian rupee. The restrictions came into effect on Friday.
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