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  • Gold Import Drops 40% To 350 Tonnes

    Diunggah oleh

    Sebin Sebastian
    5 tayangan5 halaman
    India's gold imports have declined 40 per cent so far this calendar year. Consumer sentiment due to high prices and weak currency. Gold prices hit a high of Rs 30,295 per 10g in Mumbai's Zaveri Bazaar on June 19.

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    Gold Import Drops 40% to 350 Tonnes

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    India's gold imports have declined 40 per cent so far this calendar year. Consumer sentiment due to high prices and weak currency. Gold prices hit a high of Rs 30,295 per 10g in Mumbai's Zaveri Bazaar on June 19.

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    5 tayangan5 halaman

    Gold Import Drops 40% To 350 Tonnes

    Diunggah oleh

    Sebin Sebastian
    India's gold imports have declined 40 per cent so far this calendar year. Consumer sentiment due to high prices and weak currency. Gold prices hit a high of Rs 30,295 per 10g in Mumbai's Zaveri Bazaar on June 19.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai PPTX, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
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    GOLD IMPORT DROPS 40% TO 350 TONNES

    Subdues consumer sentiment due to high prices and weak currency coupled with global slowdown, have affected demand in last 7 months

    Indias gold imports have declined 40 per cent so far this calendar year. Estimate the total imports at 350 tonnes in the seven months Data from the World Gold Council (WGC) showed total import in the first six months of 2011 at 553 tonnes

    This year, the overall import may not surpass 450 tonnes by September on reduced consumer sentiment," said Prithviraj Kothari, president, Bombay Bullion Association, the premier traders body. Gold prices hit a high of Rs 30,295 per 10g in Mumbais Zaveri Bazaar on June 19 from a modest beginning of Rs 27,175 per 10g early this year. Gold has offered 11.5% return in rupees

    ANALYSIS
    The increased duties by the government adds to the cost and makes gold even more expensive. Rupee depreciated against dollar and the government doubled the import duty on the metal.

    High prices are keeping customers away from purchasing gold.

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