Gold on wash pan

INDIA’S GOLD IMPORTS RISE SHARPLY IN MARCH 2017

India’s gold imports have risen to to $4.17 billion in March, compared to $974 million in March last year, Rough & Polished reports.

 

According to the report, “Imports of gold were on a decline since February 2016 until September 2016. It grew in October and November last year but again dipped in December 2016 and January 2017. In February, the inbound shipments grew to $3.48 billion from $1.4 billion in the same month the previous year”.

 

According to rating agency ICRA, “the imports surge was led by restocking, as well as marriage and festive season demand”. The imports mainly “take care of demand from the jewelry industry”.

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