Gold imports drop to 6-year low

Import of gold in the financial year which ended on Monday is estimated to have been at a six-year low of 557 tonnes, lowest after 2007-08. This follows imposition of stiff import curbs, including very high tariffs. Abroad, gold investors lost 19.4 per cent. In India, due to a slide in the rupee’s value (10.4 per cent) and the rise in duty and high premium for physical delivery, the fall in return was only to 3.2 per cent.

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