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India: Gold import may drop by 40pct in next 4 months: BBA

Posted on 22 August 2012

The import of gold is likely to decline by 40 percent in the last four months of the year to about 200 tonnes due to fall in demand for the yellow metal amid high prices and poor monsoon, Bombay Bullion Association said on Tuesday.
“Import of the precious metal is not very encouraging and we expect about 40 percent drop in shipments into the country at 200 tonnes in the September-December period. The rising prices of the metal, monsoon deficit and fewer wedding dates this year will mainly restrict the demand and hence the imports,” BBA president Prithviraj Kothari told reporters………………………………………..Full Article: Source


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