Scrap Monster
Vulcan
Gold January 13, 2020 01:30:27 PM

India Gold Bar Imports Dipped 6%

Paul Ploumis
ScrapMonster Author
In rupee terms, the gold bar imports were down by 5.06% from INR 3200.32 Crores to INR 3,038.39 Crores.

India Gold Bar Imports Dipped 6%

SEATTLE (Scrap Monster): The gold bar imports by India witnessed decline during the month of December last year.

According to monthly trade statistics published by the Gem & Jewellery Export Promotion Council (GJEPC), the provisional gold bar imports totalled $426.83 million in Dec ’19. This is modestly lower by 5.67%, when compared with the same month a year before. In rupee terms, the gold bar imports were down by 5.06% from INR 3200.32 Crores to INR 3,038.39 Crores.

 

ALSO READ: Shanghai Gold Exchange Mulls Entry to India's Gold Import Market

However, the cumulative gold bar imports during the initial nine months of the current fiscal year were still higher over the comparable period last fiscal. The imports were valued at $6,046.79 million in Apr ’19-Dec ’19, higher by 4.83% year-on-year. The cumulative gold bar imports by the country in Apr ’18-Dec ’18 had totalled only $5,768.25 million. In rupee terms, the imports surged by 6.46%.

Meantime, the Dec ’19 silver bar imports at $2.22 million were down sharply by over 17% from Dec ’18. The Apr ’19-Dec ’19 imports registered marginal year-on-yera decline by 2.1%.

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