Festive season demand: Gold import up by 280%!
Posted on: 18/Nov/2014 4:26:12 PM
During October, gold imports have been up by 280%.
There has been an increasing trend in the import of gold and silver from May, 2013.
The demand has further increased due to the festive season as well as the wedding season.
Further, there has been a fall in the prices of gold & silver in the international market.
During September, gold import was worth Rs. 22500 Crores and the silver import was worth Rs. 4116 Crores.
As per this statistics, the gold import has increased by 280% and silver by 136%.
Meanwhile, it is gathered that RBI has planned to regulate gold import. The Deputy Governor of RBI, S S Mundhra informed that the rise in gold imports is a matter for concern and they would discuss with the central government about it.
