Gold import in second half set to slide

The fall would be driven by early jewellery purchases and a strong revival of agricultural activity

Gold import is estimated to dive during the second half of 2017, says Thomson Reuters GFMS. It was 500-plus tonnes in the first half, supported by a 126 per cent surge in demand during the June quarter. According to Thomson Reuters, “With imports in the first half already near the whole of 2016 volumes, it is less likely in our view that imports will cross 250 tonnes in the second half.” In other words, the drop in July-December could be as much as

50 per cent.

Even so, total import for the year would be about 50 per cent