India's gold imports rebound on restocking, good monsoon, top refiner says

Section:

By Rajendra Jadhav
Reuters
Sunday, August 13, 2017

PANAJI, India -- India's gold imports are likely to jump by a third in 2017 to 750 tonnes on restocking by jewellers and as good monsoon rainfall is expected to boost demand in rural areas during the upcoming festive season, a leading refiner told Reuters.

Higher imports by the world's second biggest consumer will support global prices, which are trading near their highest level in two months, but could widen the country's trade deficit.

"Demand and imports are normalising after taking a hit last year. Jewellers are restocking after destocking last year," said Rajesh Khosla, managing director of MMTC-PAMP India, the country's biggest refinery. ...

... For the remainder of the report:

https://in.reuters.com/article/india-gold-imports-idINKBN1AT053



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