India reduced gold imports by 38% in June

18 Jul 2016

India reduced gold imports in monetary terms to 1.2089 billion dollars in June 2016, which is lower than in the same period of last year by 38.5%, according to the Ministry of Trade and Industry report. In the first half of the year, gold imports to India dropped by 43% to 9.2 billion dollars, appear from the report of the Ministry. Silver imports in June dropped by 27.16% to 249.4 million dollars. Also, the document states that the import of non-ferrous metals in the country increased by 9.9% to 941 million dollars. Exports of gems and jewelrydroppedby 0.5% to 3.509 billion dollars.In 2015, India imported gold by about 35 billiondollars, 13% higher than a year earlier.

Source: Uncommercial joint ownership "Trans-regional Association  of precious metals producers"