June gold imports decline 80.6 pct to 31.5 tonnes-source - Business Standard

Reuters  |  New Delhi  July 8, 2013 Last Updated at 13:06 IST India sharpened measures to curb imports of the yellow metal by hiking the import duty and restricting consignment imports Read more on:    Imports | Delhi | India | Gold | RBI Gold imports into India, the world's biggest buyer of the metal, fell 80.56% to 31.5 tonnes in June from the previous month, a government source familiar with the data said on Monday, lower than the trade body's estimate. However, the source said gold imports are expected to increase in coming months due to a fall in prices. All India Gems and Jewellery Trade Federation had estimated gold imports for June to be at 37-40 tonnes. India sharpened measures to curb imports of the yellow metal by hiking the import duty and restricting consignment imports, after shipments jumped to more than 300 tonnes in April and May. India's current account deficit hit a record high 4.8% of gross domestic product in the fiscal year that ended in March, fuelled by rising imports of oil and gold. Read more on:    | | | | via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHwrTBq4yqt5nBPJJLRcks911dN9g&url=http://www.business-standard.com/article/reuters/june-gold-imports-decline-80-6-pct-to-31-5-tonnes-source-113070800270_1.html

Put the internet to work for you. via Personal Recipe 2910127