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Indian gold imports said to almost triple on wedding demand

Wednesday, March 8, 2017 17:25
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(Before It's News)

gata.org / By Shruti Srivastava and Swansy Afonso via Bloomberg News / March 8, 2017

Gold imports by India, which competes with China for the role of world’s biggest consumer, are said to have risen almost three-fold in February from a year earlier as jewelers increased stockpiles before the festival and wedding period that starts next month.

Shipments jumped 175 percent to 96.4 metric tons in February from a year earlier, according to a person familiar with provisional data from the finance ministry, who asked not to be identified as the data aren’t public. Overseas purchases slid 32 percent to 595.5 tons in the 11 months to February. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-03-08/gold-imports-by-india…

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The post Indian gold imports said to almost triple on wedding demand appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/03/08/indian-gold-imports-said-to-almost-triple-on-wedding-demand/

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