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India's November gold imports nearly halve on higher prices: GFMS

Reuters  |  MUMBAI 

By Rajendra JadhavMUMBAI (Reuters) - India's gold imports in November nearly halved from a year ago as a rise in the price of the yellow metal curbed retail buying for weddings, industry officials and analysts said on Wednesday.A drop in gold purchases by India, the world's second-biggest consumer after China, could weigh on global prices that are already trading near their lowest in two months.Imports in November were around 55 tonnes, a sharp fall from last year's 100.6 tonnes, provisional data from GFMS showed."After Diwali demand tapered off. The price rise dampened retail buying for ...

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First Published: Wed, December 06 2017. 16:03 IST