Gold imports at 7-month high in July as jewellers replenish stocks

India's gold imports rose for the first time in seven months in July after a fall in prices ahead of a jewellery exhibition prompted jewellers to replenish stocks, provisional data from metals consultancy GFMS showed. The 44.

2 per cent year-on-year jump in gold purchases to 75 tonnes last month by the world's second-biggest consumer could support global prices, which on Monday dropped to 17-month lows. But higher gold imports may widen the South Asian country's trade deficit and put further pressure on its currency,.

This article is no longer available in our repository.

There could be multiple reasons for this.