For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold imports doubles to 338 MT in Apr-Jun as prices fall

By Religare
|

At a time when the government and RBI are taking every possible measure to curb demand for the yellow metal among Indians, the data released recently showed that gold imports doubled during Apr-Jun quarter of this fiscal at 338 metric tonnes following the slump in prices which boosted the demand for bars and coins.

According to a Times of India report, India's gold imports stood at 153 metric tonnes during the same period a year ago. TOI cited World Gold council report as saying that total demand for gold during the quarter was up 71 per cent at 310 tonnes, with consumption of bars and coins increasing to 122 tonnes from 56.5 tonnes and sales of jewelry gaining 51 per cent to 188 tonnes.

 

The data came soon after government increased the import duty on gold by another two percentage point this week to 10 per cent. This was the fourth straight increase in import duty on gold.

Read more about:
Story first published: Friday, August 16, 2013, 9:10 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more