Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Gold imports by India said to slump 52% in September from August.


Date: 10-10-2015
Subject: Gold imports by India said to slump 52% in September from August
Gold imports by India, the world's second- biggest consumer, dropped 52 percent last month after shipments surged in August.

Overseas purchases tumbled to 67 metric tons from 141 tons in August, according to two finance ministry officials, who asked not to be identified. Imports were valued at 123.8 billion rupees ($1.9 billion) last month, they said.

Shipments jumped in August as jewelers stocked up to meet a surge in demand during the festival and wedding season that started this month. A decline in gold prices to a four-year low in July also spurred purchases. Prices have since recovered 7 percent, tempering imports.

"Most jewelers have already stocked up and that's why they are not buying aggressively," Harish Galipelli, head of commodities and currencies at Inditrade Derivatives & Commodities Ltd., said by phone from Hyderabad. "Globally prices are quiet and are not showing any direction awaiting clarity on U.S. Fed's rate decision. People are not ready to sit on stocks and get caught on the wrong foot."

Demand usually peaks in the final quarter in India with gifting during festivals and culminates with the start of the wedding season in November. Local demand is poised to climb in the final quarter to the highest level since 2012 and may jump as much as 15 percent from a year earlier, Bachhraj Bamalwa, a director with the All India Gems & Jewellery Trade Federation, said last month.

Bullion for immediate delivery traded at $1,152.35 an ounce at 2:10 p.m. in Mumbai, according to Bloomberg generic pricing. The commodity plunged to $1,077.40 an ounce on July 24, the lowest since 2010. Futures in Mumbai are little changed at 26,586 rupees per 10 grams this year.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001