Page 2 - Gold Import

Gold, Silver to get cheaper as FM announces customs duty cut in Budget

Gold futures fell more than 3% following the surprise announcement in the annual budget by Sitharaman

Pandemic-battered gold demand in India expected to rebound in 2021

Demand is expected to jump closer to the 690 tons bought in 2019 as the country's economy shows signs of recovery, P R Somasundaram, managing director at the council for India, said

Gold price today at Rs 53,410 per 10 gm, silver trending at Rs 67,900 a kg

Physical gold price in India is at a discount for the first time in six weeks as a rebound in local prices to a one-month peak squeezed demand, while purchases slowed in other Asian hubs

Gold imports dip 40% in April-November to $12.3 billion as demand falls

Silver imports during April-November 2020 too dipped 65.7 per cent to about $752 million

Gold imports decline 47.42% to $9.28 bn during Apr-Oct on falling demand

Imports of the yellow metal stood at $17.64 billion in the corresponding period of 2019-20

Gold imports decline 47.42% to $9.28 bn during Apr-Oct as demand falls

India's gold imports, which have a bearing on the current account deficit, plunged 81.22% to $2.47 billion during April-July period of 2020-21 due to a notable fall in demand in the wake of Covid-19

Covid-19 impact: Gold imports down 57% to $6.8 bn in first half of FY21

Silver imports during April-September 2020 too dipped 63.4 per cent to USD 733.57 million (about Rs 5,543 crore), the data showed

India's August gold imports doubles to hit eight-month peak: Report

Gold imports in August nearly doubled from a year ago to the highest level in eight months on an improvement in investment demand and as some jewellers restocked after New Delhi eased lockdowns

Gold demand jumps as lockdowns ease, imports rebound by 25% in July

Overseas purchases rose to 25.5 tonnes in July from 20.4 tonnes a year earlier and were almost double the amount shipped in the previous month

Gold import likely to fall to two-decade low on demand destruction

The reason for the demand destruction is a surge in prices and the subsequent lockdown, due to which footfalls at retail stores dropped significantly

June gold imports plunge 86% y-o-y to 11 tonnes due to lockdown: Report

In value terms, June imports dropped to $608.76 million from to $2.7 billion a year ago

Investors bullish on gold amid strong fundamentals, weak global economy

Despite falling imports into India and China, gold prices are moving up due to high investment and consumer demand in the US

India's gold imports fall 99% for a second month on Covid-19 lockdown

Inbound shipments fell to 1.3 tonnes last month from 105.8 tonnes a year earlier, according to a person familiar with the data

RBI gives exporters, importers liquidity and more time amid Covid-19 crisis

RBI took cognizance of the difficult situation amid the global coronavirus crisis and announced a number of measures for the export and import sector

Gold snaps seven-day rising streak, sheds 2.2% on profit booking

Appreciation of rupee versus dollar also helped gold price fall. But outlook remains bullish as metal continues to have safe haven appeal

April gold imports plunge 99.9% to three-decade low amid lockdown: Report

In value terms, April imports dropped to $2.84 million from to $3.97 billion a year ago

Surat diamond exports resume but a $2 billion inventory headache remains

So far, initial exports are estimated to be of the tune of Rs 600 crore which is minuscule compared to the polished diamond inventory

India's January gold imports plunge 48% to four-month low: Report

The world's second-biggest buyer of gold imported 36.26 tonnes in January, compared with 69.51 tonnes a year earlier, the source said on condition of anonymity

RBI ranked sixth among central banks in buying gold abroad

RBI was a modest player in buying gold abroad compared to other major central banks, adding to its reserve in October after a gap of five months

Gold imports dip 7% in Apr-Nov to $20 bn, jewellery exports down 1.5%

The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period