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India's January gold imports plunge 76% to 32-month low
By Rajendra Jadhaw
Reuters
Thursday, January 16, 2023
MUMBAI -- India's January gold imports plunged 76% from a year earlier to a 32-month low on subdued demand after domestic prices rallied to record highs and as jewellers postponed purchases, hoping for a reduction in import duty, a government source said.
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Lower imports by the world's second-biggest bullion consumer could weigh on benchmark gold prices but the fall may help in bringing down India's trade deficit and support the ailing rupee.
The country imported 11 tonnes of gold in January, compared with 45 tonnes a year earlier, the source said on condition of anonymity, as he is not authorised to speak to the media. ...
... For the remainder of the report:
https://www.reuters.com/world/india/indias-jan-gold-imports-plunge-76-32-month-low-2023-02-16/
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