India’s June gold imports spike as buyers tried to beat higher sales tax

July 11, 2017

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India’s gold imports in June more than tripled from a year ago as retail demand jumped ahead of the start of a new sales tax that prompted jewellers and bullion dealers to replenish stocks, provisional data from consultancy GFMS showed.

June gold imports climbed to an estimated 75 t from 22.7 t a year ago, GFMS said. For the first half of the year, imports rose to 514 t, up 161% from a year ago.

Category: General