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India’s 2012 gold imports seen falling 25pct

Posted on 16 October 2012

India’s gold imports in 2012 is estimated to drop by around 25% from last year as high prices, poor liquidity, high inflation and a hike in customs duty has dampened buying sentiment, a member of a trade body said on Monday.
“Gold has been hit in every way. There is a liquidity crisis because of high interest rates and the monsoon was not very good in some states (so purchasing power will be low),” said Prithviraj Kothari, a member of Bombay Bullion Association, a body representing bullion traders, manufacturers and retailers. “The whole cycle of investment has slackened. The equity market and real estate are both slow so it is affecting gold.”……………………………………….Full Article: Source

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