Why does india buy gold




















India imported 91 tonnes of gold in September, compared to 12 tonnes a year earlier, the source said on Monday on condition of anonymity as he is not authorised to speak to media. The combination brought down local prices significantly and allowed jewellers to stock up," said a Mumbai-based dealer with a gold importing bank. Retail demand has been improving and jewellery stores are registering good footfall, the dealer said.

The country's gold imports in October could rise above tonnes from 45 tonnes a year earlier if prices remain stable around the current level of 46, rupees, said a Kolkata-based bullion dealer. ET Secure IT. Web Stories. Morning Brief Podcast. Economy Agriculture. Foreign Trade. Company Corporate Trends. Defence National International Industry. International UAE.

Saudi Arabia. US Elections World News. Kirtika Suneja. Rate Story. Font Size Abc Small. Abc Medium. Abc Large. Moreover, the European country replaced Saudi Arabia to become the fourth-largest import partner of India while the West Asian country fell a rank. Total imports from China fell 0. Investing Bad bet or value buy? Subscribe to ETPrime.

MUMBAI, Sept 6 Reuters - India's gold imports in August nearly doubled from a year earlier to the highest in five months on strong demand and as weaker prices prompted jewellers to ramp up purchases for the festive season, a government source said. The surge in imports could increase India's trade deficit and pressure the rupee. India imported tonnes of gold in August, compared to 63 tonnes a year earlier, the source said on Monday on condition of anonymity as he is not authorised to speak to media.

A price correction in the first half of the month gave an ideal opportunity for jewellers who wanted to build inventories for the upcoming festive season, said a Mumbai-based dealer with a gold importing bank.



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