India’s gold imports plunge 79% in December on weak demand, high prices
India’s gold imports declined 79 per cent in December to 20 tonnes against 95 tonnes a year ago amid sharp rise in prices in rupee terms, weak demand and a surge in smuggling.A as result, gold imports in 2022 dropped 34 per cent to 706 tonnes from 1,068 tonnes a year ago, bullion sources said.In the first […]
Gold refiners struggle to sell the metal as smuggling rises
Despite India’s busy wedding season, gold refining has come to a grinding standstill because refiners have been unable to sell bullion for more than a month.Due to widespread smuggling and a hefty import charge of 18% on gold, refiners are unable to record any bullion sales during the past six weeks.Bullion refining and gold smuggling […]