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India's April gold imports down 67.3% to 19.6 tonnes

India's April gold imports down 67.3% to 19.6 tonnes

Gold imports fell sharply by 67.33 percent to 19.6 tonnes in April 2016 as jewellers' strike opposing one percent excise duty on non-silver jewellery significantly hit demand for the metal, according to gold and silver refiner MMTC Pamp.

 

Gold imports down 74% to $1.75 billion in April

Gold imports declined over 74 percent to USD 1.75 billion in April due to restrictions imposed by the government on inbound shipments of the precious metal to narrow the current account deficit.

Gold imports may fall by more than half to 150 tn in Jul-Sept

The country had imported 160 tonnes of gold in July-September period of last fiscal.

Govt expects drop in gold imports by next month

Terming 138 percent surge in gold imports last month as an "aberration", the government on Tuesday expressed the hope that appetite for foreign gold would subside by next month due to the high inventory costs.

Gold imports surge in April not sustainable: Analysts

The massive spike in trade deficit caused by sharp rise in gold imports in April would not sustain and there is no need to get excessively worried over the data, analysts have said.