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Gold imports dip 18.4% to Rs 71,912 crore in April-June

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Publié le 30 août 2012
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The Economic Times, dans son article du 30 août 2012, rapporte que Gold imports dip 18.4% to Rs 71,912 crore in April-June.

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NEW DELHI: India's gold imports contracted by 18.4 per cent year-on-year to Rs 71,912 crore in the April-June quarter of the current fiscal.

However, it is difficult to attribute specific reasons for decline in import of gold, Minister of State for Commerce and Industry Jyotiraditya Scindia has said in a written reply to the Rajya Sabha.

"Volume of import of any commodity, including gold, depends on many factors which includes domestic demand, international and domestic prices, exchange rate, duty rates," he said, adding that the import of gold is free except for monetary purposes.

 

 

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As a corollalary, reportedly due to high prices of gold attributable to declining rupee and government imposed additional taxes, cases of gold smuggling which had died down for almost two decades have re-emerged. The younger and affluent population which showed scanty affiliation for gold believably are using their savings to invest in gold. With the customary marriage season round the corner and a good monsoon and harvest we may see an upswing in gold demand in the upcoming quarter. It may be prudent ot start buying on dips now while gold trades between $ 1625 and 1700.
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As a corollalary, reportedly due to high prices of gold attributable to declining rupee and government imposed additional taxes, cases of gold smuggling which had died down for almost two decades have re-emerged. The younger and affluent population which  Lire la suite
Papli - 30/08/2012 à 23:29 GMT
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