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India’s Gold imports Hit Three-year Lows, May not have a big impact on Gold prices

India’s Gold imports Hit Three-year Lows, May not have a big impact on Gold prices. Indian Gold imports in August fell 73% from a year ago to hit the lowest level in three years as the hike in import duty and record highs in local prices curbed retail demand, a government source said on Wednesday.

India imported 30 tonnes of Gold in August, down from 111.47 tonnes a year ago, the source said.

Read More : Gold $1,550 is the level to beat for the Bulls, $1,517 is the level to beat for the Bears

A drop in imports by the world’s second-biggest consumer may not weigh over Gold prices unless markets scale back dovish Federal Reserve expectations. The central bank is expected to cut rates by 25 basis points in September.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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