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Reuters reported that Russia’s VTB Bank (MCX:VTBR) has started exporting gold and silver bullion to India; the first deliveries have taken place over the past few weeks.
Reuters reported that Russia’s VTB Bank (MCX:VTBR) has started exporting gold and silver bullion to India; the first deliveries have taken place over the past few weeks.
As quoted in the market news:
Indian imports are under heavy pressure after New Delhi raised duties on the metal earlier this year to help reduce a fast-widening current account deficit.
India has historically been the world’s biggest consumer of gold, but it is expected to be surpassed by China this year because of the import curbs.