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Gold imports by India said to rise more than four-fold in April

Wednesday, May 10, 2017 19:01

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gata.org / By Shruti Srivastava and Swansy Afonso via Bloomberg News / May 10, 2017

Gold imports by India gained more than four-fold in April driven by jewelers restocking in anticipation of a recovery in sales during the wedding season that will last until mid-June.

Shipments rose to 98.3 metric tons last month from 22.2 tons 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. Imports were affected a year earlier because of a strike by jewelers to protest an excise tax on jewelery made and sold locally. …

… For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-05-10/gold-imports-by-india…

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The post Gold imports by India said to rise more than four-fold in April appeared first on Silver For The People.

Source: http://silveristhenew.com/2017/05/10/gold-imports-by-india-said-to-rise-more-than-four-fold-in-april/

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