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.

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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%.