Monday, November 30, 2020

Tag: India Gold Imports Surge To 5 Year High – 220 Tons In May Alone

India Gold Imports Surge To 5 Year High – 220 Tons In May Alone

Cashless push, good for gold
by Mark O’Byrne, Gold Core:

– India gold imports in H1, 2017 greater than all of 2016
– India imported 521 tonnes of gold in first half of 2017
– H1 figure for gold imports $22.2 Bln versus $23 Bln in all ’16
– Gold demand was up 15{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} year- on-year in the first quarter
– June gold imports climbed to an estimated 75 tonnes from 22.7 tonnes a year ago
– Annual total set to surpass 900 tons, strongest year since ’12
– “I trust gold more than the currencies of countries” – 63{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of Indians in Survey