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India’s gold import rises 45 pc to 48 tonnes

Posted By admin On November 11, 2009 @ 10:56 am In Money Watch | Comments Disabled

The Economic Times [1]
Wednesday, November 11, 2009

NEW DELHI: India’s gold imports surged by over 45 per cent in October at 48 tonnes on the back of rising demand, the country’s largest state-run gold importing firm MMTC said today.

India, the world’s largest gold consumer, had imported 33 tonnes in the corresponding period last year, it said.

(ARTICLE CONTINUES BELOW)

Indias gold import rises 45 pc to 48 tonnes 071009banner3 [2]

“Gold imports rose due to a sharp rise in jewellery demand and pick up in investment,” MMTC Chairman and Managing Director Sanjiv Batra told reporters here.

Consequently, MMTC purchased 15.13 tonnes from the global market last month as against 10.42 tonnes in the same period in 2008-09, he said.

Full story here. [1]


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URLs in this post:

[1] The Economic Times: http://economictimes.indiatimes.com/news/economy/foreign-trade/Indias-gold-import-rises-45-pc-to-48-tonnes-in-October/articleshow/5220512.cms

[2] Image: http://www.efoodsdirect.com/gmoPeople.html?aid=14&adid=12

[3] Gold purchases up 36% as investors look to preserve wealth: http://www.prisonplanet.com/gold-purchases-up-36-as-investors-look-to-preserve-wealth.html

[4] China Becomes World’s Larest Gold Buyer – Buys 93.5 Tonnes Of Gold Coins / Bars in Q1 – Gold Ownership Rising From Miniscule Levels: http://www.prisonplanet.com/china-becomes-world%e2%80%99s-larest-gold-buyer-buys-93-5-tonnes-of-gold-coins-bars-in-q1-gold-ownership-rising-from-miniscule-levels.html

[5] China Gold Imports to Surge: Report: http://www.prisonplanet.com/china-gold-imports-to-surge-report.html

[6] Gold fund’s holdings jump on rush to bullion safety: http://www.prisonplanet.com/gold-fund%e2%80%99s-holdings-jump-on-rush-to-bullion-safety.html

[7] New Record For GLD Gold Holdings (+5 Tonnes); Gold On Its Way To Validate Goldman’s $1,400/Oz Prediction: http://www.prisonplanet.com/new-record-for-gld-gold-holdings-5-tonnes-gold-on-its-way-to-validate-goldmans-1400oz-prediction.html

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