Author: Shivom Seth
Posted: Tuesday , 12 Aug 2014
MUMBAI (MINEWEB) -
Despite some minor relaxation in government curbs in May this year, gold imports into Gujarat state have fallen to a record low in July. Data showed that just 3.06 metric tonnes of gold was imported in July 2014, which has been termed the lowest figure for July in the last six years, and as compared to 8.9 metric tonnes in July 2013 – down around 60% year on year. This parallels somewhat similar figures elsewhere in India
After several months, gold imports had re-crossed the double digit mark in June 2014, recording 17 tonnes in Gujarat – the home state of India’s new Prime Minister, Narendra Modi. Analysts had said this was one of the main reasons why the new government did not relax its stranglehold on gold import curbs in its first Budget in July. ...