| Traders are bracing for a short-term bump upward in India’s gold demand after the world’s largest consumer of the precious metal maintained an import duty in a budget unveiled Saturday. In the weeks leading up to the budget announcement, India’s gold imports slowed. Some wholesalers delayed purchases, anticipating that the government would announce a cut in taxes on gold imports.
Imports in January totaled around 39 metric tons, according to Macquarie Group Ltd. That compares with a monthly average of 81 tons in the second half of 2014. Data for February isn’t available, but traders and analysts said imports remained subdued last month...............................................Full Article: Source
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