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.
