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Gold Imports News
Gold imports dip 94 pc in Apr-Jun to USD 688 million
Mon, Jul 20, 2020
Gold imports, which have a bearing on the current account deficit (CAD), plunged 94 per cent to USD 688 million (about Rs 5,160 crore) during the first quarter of 2020-21 due to a significant fall in demand in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry
Gold imports dip 6.77 pc during April-Dec 2019
Mon, Jan 27, 2020
Gold imports, which have a bearing on the current account deficit (CAD), fell 6.77 per cent to USD 23 billion during the April-December period of the current financial year, according data from the commerce ministry
Gold imports dip 5.5 percent during April-February to USD 29.5 bn
Sun, Mar 24, 2019
After recording negative growth for three consecutive months -- October, November and December 2018, gold imports grew by 38.16 per cent to USD 2.31 billion in January this year. It again contracted by 10.8 per cent to USD 2.58 billion in February.
India's trade deficit narrows, but flat exports a concern
Tue, Jan 15, 2019
India`s trade deficit narrowed to $13.08 billion in December, the lowest in 10 months, on a fall in gold imports but exports remained flat, deepening concerns for Prime Minister Narendra Modi who wants to accelerate growth ahead of elections.
India just not buying gold! Check out the poor numbers
Fri, Nov 16, 2018
The imports mainly take care of demand of the jewellery industry. The exports of gems and jewellery grew by about 5.5 per cent during the month to USD 34.9 billion.
Gold imports up 4% to USD 17.63 billion in Apr-Sep 2018-19
Fri, Oct 19, 2018
Gold imports increased by about 4 per cent to USD 17.63 billion in the first half of 2018-19, inflating the country's trade deficit and fuelling worries about the current account deficit.
World Gold Council warns India against curbs on gold imports
Wed, Sep 19, 2018
India should not tamper with its gold import duty or impose other restrictions to support the rupee, the World Gold Council said on Wednesday, as the government considers ways to cut "non-necessary" imports to stem an outflow of dollars.
India's June gold imports spike as buyers tried to beat higher sales tax
Tue, Jul 11, 2017
Gold premiums in India jumped to $10 an ounce in the last week of June, the highest level in 7-1/2 months.
Indian gold imports to drop back sharply after Q1 spike: WGC
Thu, May 18, 2017
Full-year imports will be little changed from 2016`s 524 tonnes, gold industry-funded WGC`s managing director for India Somasundaram PR said.
Growth in gold, crude oil imports sees three-fold rise in India's trade deficit
Mon, May 15, 2017
While gold imports in India rose three-fold during April, crude oil imports further grew by 30% putting more pressure on out trade deficit.
Gold imports fall sharply post-demonetisation
Sun, Mar 12, 2017
India is one of the largest gold importers in the world, and the imports mainly take care of demand from the jewellery industry.
Direct tax collection records growth of nearly 11% in April-February; indirect tax collection up 22%
Fri, Mar 10, 2017
The Government of India's net refunds of direct tax collection from April to February 2016-17 has risen 10.7% to Rs 6.17 lakh crore as compared to same period last year.
India's current account deficit likely to be 1.3% of GDP in 2017: Nomura
Mon, Jan 16, 2017
India's current account deficit (CAD) is expected to be around 1.3% of GDP in 2017 as against a deficit of 0.8% in 2016, says a report.
Will gold remain most trusted metal after demonetisation?
Mon, Dec 12, 2016
With people moving towards 'digitalisation', Kothari believes that sales of only coin on e-commerce sites will shoot up.
India’s gold imports at 11-month high in October at over 99 tons
Mon, Dec 05, 2016
Ministry of Commerce and Industry, on Monday revealed the details of gold imports in India over the past year and October’s imports which amounted to 99.62 tons valued at $3.5 billion.
Demonetisation: India gold premiums surge to two-year highs on fears of import curb
Fri, Nov 18, 2016
Gold premiums in India jumped to two-year highs this week as jewellers ramped up purchases on fears that the government might put curbs on imports after withdrawing higher-denomination notes from circulation in its fight against black money.
Govt hikes import tariff value on gold, silver
Tue, Nov 01, 2016
The government on Monday hiked import tariff value on gold and silver marginally to $414 per 10 grams and $577 per kg, respectively, taking into account global trends.
India's clampdown on 'black money' curbs gold appetite: Kotak
Tue, Oct 18, 2016
India's crackdown on undisclosed foreign assets and income is curbing demand for gold in the world`s second-biggest consumer, while rising real interest rates and better returns from other financial markets are also hurting purchases, a banker said.
Gems, jewellery exports up nearly 12% in April-July period of FY17
Thu, Aug 25, 2016
Exports of gems and jewellery grew 11.7% to $11.4 billion during the first four months of the current fiscal, driven largely by demand in India's major markets like the United States (US).
Illicit Gold: India's smugglers shut out refiners, banks
Tue, Aug 23, 2016
Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners. Now, they are suspending operations as a surge in smuggled bullion wipes out wafer thin margins.