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Home>GoldWire>India gold imports said to jump 582 on festival, wedding demand

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India gold imports said to jump 582% on festival, wedding demand

Chris Powell

GATA

Published : April 12th, 2017

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	Gold imports by India are said to have jumped almost seven-fold in March from a year earlier as jewelers stocked up anticipating a demand recovery during the wedding season that began this month and the auspicious Hindu gold-buying day of Akshaya Tritiya. Shipments advanced 582.5 percent to 120.8 metric tons last month 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. Imports dropped 20 percent to 716.4 tons in the year ended March 31. Finance Ministry spokesman D. S. Malik declined to comment on the data. ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2017-...d-imports-sa...

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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