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GOLD GLITTERS LIKE NEVER BEFORE: Gold has mesmerised mankind since time immemorial.The craze for the yellow metal is more pronounced in India, which is the world's largest consumer of gold.

India consumes an average of 800 tonnes of gold every year. The country's total jewellery market is worth around $10 billion.

However, by the end of 2003, the demand for gold waned slightly, with the price of the precious metal zooming to record highs, due to a sharp rise in global prices.

But the scene was different in the third quarter, according to Gold Field Mineral Service. India's demand for gold rose to 131.9 tonnes in the third quarter, as against 117.8 tonnes for the same period last year.

So what is it about gold that bewitches Indians, and how did the yellow metal market do in the year gone by? Read on..

Photo: Raveendran/AFP/Getty Images

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Also see: 10 great reasons to invest in India

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