Friday 19 February 2016

Gold imports dips substantially in Feb, concern on dore inflow

The market discount till Monday was US $32.5 an ounce or around Rs 700 per 10g to the cost of import. Discounts were due to selling by traders from inventory of what was imported in December-January, when prices were lower. Despite January being perceived as a dull month for gold,import jumped significantly in value terms, by 85.2 per cent to $2.9 billion (nearly Rs 20,000 crore), up from $1.6 bn a year before. Read More

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