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Gold rush, again

Surge in bullion imports is a matter of concern

India’s gold imports in terms of quantity in the first half of 2017 crossed the entire imports of 2016. The country imported 510 tonnes of gold in 2016, while the imports in January-June 2017 were 521 tonnes. Imports could cross 900 tonnes this year against an average of 709 tonnes in the past five years, according to data compiled by GFMS Thomson Reuters. The import bill is expected to cross $40 billion this year, which will be the highest in value terms since 2012. There could be many reasons for this renewed focus on a traditional asset. Demonetisation made households wary about ...