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Gold Import down by 10 percent in September
Posted on: 17/Oct/2016 10:18:30 AM
As there is a continued trend of reducing gold prices in the international and Indian market, the gold import in India for the month of September has come down by 10 percent and was worth US Dollars 180 Crores.
This data was from ASSOCHAM.It is worth noting that the corresponding gold import figure in the previous year was worth US Dollars 200 Crores.
There has been a reducing trend in gold import since last February.As gold import reduces, the current deficit account is under control. Last September, this deficit was down to US Dollars 933 Crores. This compares favorably with the corresponding deficit figure during September 2015, this deficit was US Dollars 1016 Crores.
As per statistics, the silver import was also down to US Dollars 13.90 Crores in September. The corresponding figure for the last year was US Dollars 48.47 Crores.
The gold import by India during the period from April to July 2016 has been down to 60 tons. This is an appreciable reduction as compared to the corresponding figure of the previous year which was as high as 250 tons.
In the international level, China occupies the 1st place in gold imports and India is in the 2nd place.
During the financial year 2015-16, India has imported 650 tons of gold.
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