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Gold imports down in June
Posted on: 09/Jul/2013 11:17:17 AM
‘Gold imports in June are said to have fallen to around 31 tonnes, down from 162 tonnes in May and 141 tonnes in April. There has been a sharp fall in the import of gold to 31 tonnes as demand moderated and the impact of hike in duty was seen as traders bought less gold’, say sources.
India is the largest importer of gold in the world. The metal is used mostly in jewellery. In 2012-13, India imported 830 tonnes of gold. However, in June, import of gold and silver have declined and stood at between US $ 2 and 2.5 billion. In May, the amount was $8.9 billion.
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