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Gold imports more than doubled in July

Demand is expected to slow in second half on new tax: WGC

Shruti Srivastava & Swansy Afonso | Bloomberg  |  New Delhi/ Mumbai 

Gold imports by India are said to have risen in July on arrival of some delayed shipments booked ahead of the implementation of a new national goods and services tax on the first of last month, according to a person familiar with the information. Inbound purchases rose to 53.4 tonnes last month from 22 tonnes a year earlier, said the person, who didn't wish to be identified because the data isn't public. Sequentially, imports of the metal fell from 72 tonnes in June. Total imports during January to July jumped more than 2 1/2 times to 625.5 tonnes, according to data compiled by ...

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First Published: Thu, August 10 2017. 01:14 IST