Gold Imports

The RBI on Wednesday came up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers

The import of toys, games, sports equipment from China is showing a declining trend

India's gold imports, which have a bearing on the country's current account deficit (CAD), surged by about 73 per cent to $45.1 billion during April-February this fiscal on account of higher demand

A recovery in consumer confidence and a retreat in gold prices from last year's peak are likely to further bolster demand

About 2.5 million ceremonies are estimated to have taken place since mid-November, around a quarter of this year's expected annual total.

The Centre's fiscal deficit touched just 35 per cent of the Budget Estimates in the first six months of 2021-22

The imports, it said, picked up in August which recorded the second-highest gold imports of 118.08 tonnes

Gold imports, which have a bearing on the current account deficit, zoomed to about USD 24 billion during April-September 2021 due to higher demand in the country,

The trade deficit in September was at $22.94 billion as gold imports jumped nearly 750 per cent to $5.11 billion

Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices , which have corrected nearly 12% from an all-time high of $2,072 in August 2020

Net gold imports via Hong Kong to China, the world's top consumer of the metal, stood at 30.887 tonnes in June compared with 21.781 tonnes in May, the data showed.

Gold imports, which have a bearing on country's current account deficit, jumped multi-fold to $7.9 bn during the April-June 2021 quarter due to low base effect in the wake of Covid, data shows

Overseas purchases increased more than sevenfold to 98.6 tons last month from 13 tons a year earlier.

India's gold imports in March surged 471% from a year earlier to a record 160 tonnes, a government source told Reuters on Thursday

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry

Exporters also cite container shortage; imports continue to rise due to revival in domestic economy and high commodity prices

Inbound shipments fell 38 per cent in September from a year earlier to 8.4 tons, according to a person familiar with the data

Import contraction restricted to 26 per cent in August due to surge in gold purchases from abroad

Imports of the yellow metal stood at $13.16 billion (about Rs 91,440 crore) in the corresponding period of 2019-20

Oil imports declined by 31.97 per cent to $6.53 billion in the month under review. Gold imports grew by 4.17 per cent to $1.8 billion