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Gold Imports Fell 39% in April in India: GFMS
May 10, 2018
Precious metals research and consultancy firm GFMS said that India’s gold imports plunged by 39% in April mainly because of the rise in local prices, the highest in the last 21 months.
India imported only 57 tonnes of gold in April this year compared to 93.6 tonnes in April last year.
ABans Jewels Pvt. Ltd. promotor Abhishek Bansal said that the weakened rupee is another reason behind the decline in gold imports. He said that now it’s even more expensive for the retail consumers to purchase gold.
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