India gold imports said to jump 582% on festival, wedding demand

Section:

By Shruti Srivastava and Swansy Afonso
Bloomberg News
Wednesday, April 12, 2017

Gold imports by India are said to have jumped almost seven-fold in March from a year earlier as jewelers stocked up anticipating a demand recovery during the wedding season that began this month and the auspicious Hindu gold-buying day of Akshaya Tritiya.

Shipments advanced 582.5 percent to 120.8 metric tons last month from a year earlier, according to a person familiar with provisional data from the finance ministry, who asked not to be identified as the data aren't public. Imports dropped 20 percent to 716.4 tons in the year ended March 31. Finance Ministry spokesman D. S. Malik declined to comment on the data. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-04-12/india-gold-imports-sa...



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