Gold Imports up 65% in June

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Jhon Kumar
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Joined: Tue Jan 08, 2013 2:10 am
Location: Indore, MP, INDIA

Gold Imports up 65% in June

Post by Jhon Kumar » Thu Jul 17, 2014 2:15 am

After declining for seven months in a row, gold imports grew by 65.13 per cent to USD 3.12 billion in June. Imports of gold in June 2013 were USD 1.88 billion. The high imports have marginally pushed up the country's trade deficit to USD 11.76 billion in June from USD 11.28 billion in the same month last year. In October 2013, gold imports had risen 62.5 per cent to USD 1.3 billion.

The Commerce and Industry Ministry is pitching for easing of the gold import restrictions to boost gems and jewellery exports, which declined by 5 per cent in June to USD 3.31 billion. According to experts, decline in gold prices in the global market have pushed up imports in the country. Gold in New York, which normally sets price trend on the domestic front, fell by 0.7 per cent to USD 1,297.10 an ounce after touching USD 1,292.60, the lowest since June 19.

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Re: Gold update 18-SEP-2014

Post by epicresearch » Wed Sep 17, 2014 10:16 pm

Commodity Tips : SELL GOLD OCT 3 LOTS BELOW 26710 TARGET 26635 26535 SL 26800

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