Gold jewelry gems india

INDIA: GOLD IMPORTS TRIPLE IN LAST FIVE MONTHS

Data from the Ministry of Commerce in India, quoted by Art of Jewellery, shows that the country’s gold imports “recorded a three-fold jump to $15.24 billion during the April-August period”. In the same period last year, gold imports totaled $5.08 billion.

 

In August 2017, gold imports rose to $1.88 billion, up from $1.11 billion in the same month of the previous fiscal. According to the website, imports “are expected to increase on account of the forthcoming festival season, which will start from the end of this month”.

 

In late August, India restricted imports of gold and silver items from South Korea. According to Diamond World, India is trying to “check spurt in inbound shipments of precious metals from that country”, after a sudden surge in imports of precious metal from South Korea, with which India has a free trade agreement since January 2010. Gold imports from South Korea jumped to $338.6 million between July 1 and August 3 this year. The import in 2016-17 stood at $70.46 million.

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