India's Gold import likely to fall by 15% in 2018

Mumbai-India (Aug 21)  Due to sluggish demand in investment and rising interest rates together with tighter credit norms most of the consumer demand is for jewellery and that too of the light-weight variety as the result overall imports are likely to fall by at least 15 per cent.

 Prices in India are down 6.8 per cent on average from their peaks. As a result, the country's price-sensitive customers are back in the market and demand is now expected to remain steady after the first half of subdued offtake.

 Indications are that jewellers have started restocking Gold ahead of the festival season which is now just around the corner.

 Fall in rupee exchange rate has helped arrest impact of a sharp correction in the international prices of Gold, which is down nine per cent in the current calendar year, even as the price of domestic standard Gold has remained more or less stagnant.

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