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Gold imports inching up as discounts, prices moderates

Discounts fall to 3-month low levels due to pick-up in imports, demand

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Gold Imports

Rajesh Bhayani  |  Mumbai 

Gold import over the past 10 days has seen some higher flow due to demand from jewellers. Falling prices have also encouraged consumers to buy gold as the festive season looms and the Shravan month, generally a time of abstinence, draws to a close.

The Ganpati festival in west and south followed by Onam in second week of September and then Dussehra may continue to push demand, too. Gold prices were quoting at 3-5% discount in domestic market in last few months but with demand picking up, that has fallen to a three month low to $17.5 per ounce or around Rs 400 per tola (10 grammes). Shekhar ...

First Published: Sat, September 03 2016. 11:13 IST
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