You are here: Home » PTI Stories » National » News
Business Standard

Gold imports drop 10.3% to $1.8 bn in Sep

Press Trust of India  |  New Delhi 

Gold fell 10.3 per cent to USD 1.80 billion in September due to sliding prices of the metal in both global and domestic markets.

According to the data of the commerce ministry, gold had stood at USD 2 billion in September last year.



The of the metal have been declining since February this year. Dip in the help contain the current account deficit (CAD).

The contraction helped narrowing the trade deficit to USD 8.33 billion in September this year as against USD 10.16 billion in the same month of 2015.

The mainly take care of demand of jewellery industry.

For the full year, CAD stood at USD 22.1 billion, 1.1 per cent of GDP, as against USD 26.8 billion, 1.3 per cent, in 2014-15.

As per the data, silver too went down to USD 139.16 million in September as against USD 484.74 million in the same month last year.

The country's total official gold declined to 60 tonnes in April-July of this fiscal, much lower than 250 tonnes in the year-ago period.

India, the world's second biggest gold consumer after China, imported 650 tonnes in 2015-16.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Gold imports drop 10.3% to $1.8 bn in Sep

Gold imports fell 10.3 per cent to USD 1.80 billion in September due to sliding prices of the metal in both global and domestic markets. According to the data of the commerce ministry, gold imports had stood at USD 2 billion in September last year. The imports of the metal have been declining since February this year. Dip in the imports help contain the current account deficit (CAD). The contraction helped narrowing the trade deficit to USD 8.33 billion in September this year as against USD 10.16 billion in the same month of 2015. The imports mainly take care of demand of jewellery industry. For the full year, CAD stood at USD 22.1 billion, 1.1 per cent of GDP, as against USD 26.8 billion, 1.3 per cent, in 2014-15. As per the data, silver imports too went down to USD 139.16 million in September as against USD 484.74 million in the same month last year. The country's total official gold imports declined to 60 tonnes in April-July of this fiscal, much lower than 250 tonnes in the ... Gold fell 10.3 per cent to USD 1.80 billion in September due to sliding prices of the metal in both global and domestic markets.

According to the data of the commerce ministry, gold had stood at USD 2 billion in September last year.

The of the metal have been declining since February this year. Dip in the help contain the current account deficit (CAD).

The contraction helped narrowing the trade deficit to USD 8.33 billion in September this year as against USD 10.16 billion in the same month of 2015.

The mainly take care of demand of jewellery industry.

For the full year, CAD stood at USD 22.1 billion, 1.1 per cent of GDP, as against USD 26.8 billion, 1.3 per cent, in 2014-15.

As per the data, silver too went down to USD 139.16 million in September as against USD 484.74 million in the same month last year.

The country's total official gold declined to 60 tonnes in April-July of this fiscal, much lower than 250 tonnes in the year-ago period.

India, the world's second biggest gold consumer after China, imported 650 tonnes in 2015-16.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Gold imports drop 10.3% to $1.8 bn in Sep

Gold fell 10.3 per cent to USD 1.80 billion in September due to sliding prices of the metal in both global and domestic markets.

According to the data of the commerce ministry, gold had stood at USD 2 billion in September last year.

The of the metal have been declining since February this year. Dip in the help contain the current account deficit (CAD).

The contraction helped narrowing the trade deficit to USD 8.33 billion in September this year as against USD 10.16 billion in the same month of 2015.

The mainly take care of demand of jewellery industry.

For the full year, CAD stood at USD 22.1 billion, 1.1 per cent of GDP, as against USD 26.8 billion, 1.3 per cent, in 2014-15.

As per the data, silver too went down to USD 139.16 million in September as against USD 484.74 million in the same month last year.

The country's total official gold declined to 60 tonnes in April-July of this fiscal, much lower than 250 tonnes in the year-ago period.

India, the world's second biggest gold consumer after China, imported 650 tonnes in 2015-16.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard