Gold import may fall as dealers sell at discount

In a rush to raise cash to fulfil banks’ payment commitments, bullion dealers are selling gold at a discount of US $7-8 an ounce (Rs 175 for 10 gm) to jewellery manufacturers and retailers. Abundance of supply might hit gold import in June, which is estimated to fall to 35-40 tons, a level not seen in the past several months.
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