Indian Gold, Silver Imports Rise 89.7 Percent in May, Despite Government Restrictions

Mineweb reported that, despite the Indian government’s attempt to curb gold and silver imports, they still rose by 89.7% to $8.3 billion in May 2013.

As quoted in the market report:

While this is less than the 138% year-on-year growth experienced in April, India’s Commerce Secretary S R Rao, addressing a media briefing, said the continued increase in bullion imports had brought about a jump in India’s trade deficit to $20.14 billion in May, from $17.8 billion in April.

To view the whole Mineweb report, click here.