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Reuters reported that India’s August gold imports came to a total of $2 billion, up 176 percent from $239 million last year. Meanwhile, the country’s trade deficit increased.
Reuters reported that India’s August gold imports came to a total of $2 billion, up 176 percent from $239 million last year. Meanwhile, the country’s trade deficit increased.
As quoted in the market news:
‘We can manage with monthly gold imports of about $2 billion and the jump in the August number is largely due to last year’s low base after a sudden clamp down,’ Shubhada Rao, an economist at Yes Bank Ltd. in Mumbai, said yesterday. ‘The jump may look alarming, but there is no reason for panic.’
