Wednesday, July 28, 2010

Indian Gold Imports For July Halve

According to a Reuters India report, Indian gold imports for this month are slated to come in at about half of what they were for July of '09.
"It is all because of the prices," [head of Bombay Bullion Association Suresh] Hundia told Reuters, referring to the firm levels gold has held on for the greater part of the month in the local market.

In the international market gold prices went into a gradual decline in July after hitting highs in the previous month as buyers weighed its investment appeal amid a sputtering global economic recovery.

Though prices were softer in July from the month ago, Indians were still not used to the levels, Hundia said.
The estimate for this month is 14-15 tonnes. July of '09's figure was 28.4 tonnes.

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