Gold remains weak after downbeat U.S. manufacturing report

India tops the global ranking with demand nearly 50 times that of its mined supply.

Hedge funds and other large speculators boosted their net-long position in gold.

Over two-thirds of today’s junior miners are essentially worthless, says resource speculator Rick Rule. 

The decision will hit artisanal miners of metals such as gold and tin hard, as they are the region's dominant producers.