Gold imports were down to 52 tonnes in September against record-high 186 tonnes in August (Representational image)
Chennai: Gold imports were down to 52 tonnes in September against record-high 186 tonnes in August – a decline by 72 per cent sequentially.
Compared to September 2023, gold imports last month were down by 27 per cent. While aggressive stocking up of inventory for the festive season and the duty cut saw imports surging in August, spurt in the international gold prices in September resulted in dampened demand.
In August, the imports were up by 117 per cent on a year-on-year basis. Apart from August, February also saw imports surging past 100 tonnes. Gold imports were up by 15 per cent to 585 tonnes for the nine-month period of 2024 against 511 tonnes in the same period last year, as per the data of Metals Focus.
Compared to September 2023, gold imports last month were down by 27 per cent. While aggressive stocking up of inventory for the festive season and the duty cut saw imports surging in August, spurt in the international gold prices in September resulted in dampened demand.
In August, the imports were up by 117 per cent on a year-on-year basis. Apart from August, February also saw imports surging past 100 tonnes. Gold imports were up by 15 per cent to 585 tonnes for the nine-month period of 2024 against 511 tonnes in the same period last year, as per the data of Metals Focus.
( Source : Deccan Chronicle )
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