Reports from India indicate gold imports dropped 21.43 billion USD in the April-October months this year (2019) compared to 2018. That’s an 18.4% drop which is significant in anyone’s book.
Regular followers of The Gold Enthusiast know he watches Indian gold figures closely, as India is often the world’s largest importer of raw gold. Indian consumers are traditionally among the world’s highest purchasers of new gold jewelery and small gold bars, thanks to gold-gifting customs related to their marriage and gifting seasons.
But a few years ago the Indian government decided they wanted a piece of the action, and imposed a…
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