Page 3 - Gold Import

Govt raises import duty on gold to 15% from 10.75% to curtail CAD

Last year, the government had cut the tax on gold imports to 7.5% in the Union Budget

India now the fourth largest gold recycling country: World Gold Council

Over the past five years, 11 per cent of India's gold supply came from 'old gold'; driven by movements in the gold price

India's gold imports bounced back to 1,067 tonnes in 2021: GJEPC

India's gold imports bounced back to 1,067.72 tonnes in 2021 from 430.11 tonnes during 2020 when the demand was hit due to the COVID-19 pandemic, Gem Jewellery Export Promotion Council (GJEPC) said

India's gold imports jump over two-fold to $38 bn in Apr-Dec 2021

India's gold imports, which has a bearing on the country's current account deficit (CAD), more than doubled to $38 billion during April-December this fiscal

Gold price rises as investors focus on Federal Reserve for hike hints

Spot gold was up 0.32 per cent at $1,820.41 per ounce by 1132 GMT

India spends record $55.7 billion on gold imports in 2021: Report

The 2021 gold import bill easily doubled the $22 billion spent in 2020, and surpassed the previous high, set in 2011, of $53.9 billion, according to an official

Imports made up 86% of India's gold supply between 2016-2020: WGC

Imports made up 86 per cent of India's gold supply between 2016-2020, and inbound shipments continue to grow despite high import duty, as per a report by the World Gold Council (WGC)

India's September gold imports surge as prices correct ahead of festivals

Higher imports by the world's second-biggest bullion consumer could support benchmark gold prices

India's August gold imports nearly double on price correction: Report

Gold imports in August nearly doubled from a year ago to their highest level in five months on an improvement in demand and as a correction in prices prompted jewellers to ramp up purchases

Gold imports jump multi-fold to $6.91 bn in Apr-May on low base effect

Gold imports, which have a bearing on the current account deficit, zoomed to 6.91 billion during April-May 2021 due to low base effect in the wake of the Covid-19 pandemic

Gold price today at Rs 48,310 per 10 gm, silver trending at Rs 71,600 a kg

In New Delhi, the price of 22-carat gold is at Rs 47,110 per 10 gm. In Chennai, it increased to Rs 46,160. The rate in Mumbai was Rs 48,310

May gold imports surge, vegetable oil buying hits record high: Report

India's gold imports in May surged more than nine-fold from last year's low base to 12 tonnes, while vegetable oil imports in the month spiked 148% to a record $1.4 billion, a government source

Gold import jumps to $6.3 bn in April due to surge in domestic demand

Gold import, which has a bearing on the country's current account deficit, zoomed to $6.3 billion for the month of April due to a surge in domestic demand, according to the Commerce Ministry data.

Gold imports up by 22.58% to $34.6 billion in 2020-21, CAD takes a beating

Gold imports, which have a bearing on the country's current account deficit (CAD), rose by 22.58 per cent to USD 34.6 billion (about Rs 2.54 trillion ) during 2020-21 due to increased domestic demand

Gold, Silver to get cheaper as FM announces customs duty cut in Budget

Gold futures fell more than 3% following the surprise announcement in the annual budget by Sitharaman

Pandemic-battered gold demand in India expected to rebound in 2021

Demand is expected to jump closer to the 690 tons bought in 2019 as the country's economy shows signs of recovery, P R Somasundaram, managing director at the council for India, said

Gold price today at Rs 53,410 per 10 gm, silver trending at Rs 67,900 a kg

Physical gold price in India is at a discount for the first time in six weeks as a rebound in local prices to a one-month peak squeezed demand, while purchases slowed in other Asian hubs

Gold imports dip 40% in April-November to $12.3 billion as demand falls

Silver imports during April-November 2020 too dipped 65.7 per cent to about $752 million

Gold imports decline 47.42% to $9.28 bn during Apr-Oct on falling demand

Imports of the yellow metal stood at $17.64 billion in the corresponding period of 2019-20

Gold imports decline 47.42% to $9.28 bn during Apr-Oct as demand falls

India's gold imports, which have a bearing on the current account deficit, plunged 81.22% to $2.47 billion during April-July period of 2020-21 due to a notable fall in demand in the wake of Covid-19