India gold imports 30T in April, up 25pct y/y - trade
MUMBAI (Reuters) - India imported about 30 tonnes of gold in April, up 25 percent from the same month last year, helped by a drop in prices and festival demand, the head of a trade body said on Monday.
"Prices were a bit lower, so there was buying," said Suresh Hundia, president of the Bombay Bullion Association. "If prices fall below 14,000 rupees ($282) per 10 grams, buying will increase this month."
Prices were at 14,314 rupees per 10 grams at 0950 GMT on Monday, down from an all-time high of 16,040 rupees on Feb. 20.
Hundia revised upwards March imports to 0.8 tonnes from nil reported earlier and for February to 1.3 tonnes from 0.8 tonnes.
Imports in 2008 had fallen sharply to 396 tonnes from 759 tonnes the previous year, data from the trade body showed, mainly due to high prices.
© Thomson Reuters 2010 All rights reserved
Economy seen growing at 7.2 pct in FY10 - govt
The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget. Full Article
Greek crisis sets euro zone enlargement back
The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area. Full Article
India
US
UK
