InvestorQ : What is the reason for the sharp rise in gold imports in the month of Sep-21?
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What is the reason for the sharp rise in gold imports in the month of Sep-21?

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rhea Babu answered.
2 months ago
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For Sep-21, India’s gold imports surged 658% to $5.1 billion. This is a phenomenal jump, even considering that India is the world’s second largest gold consumer after China. India imported 91 tonnes in Sep-21 and 288 tonnes in the Sep-21 quarter. With prices relatively lower, jewellery retailers stocked up on gold ahead of the festive season. RBI is averse to a surge in gold imports as it uses precious foreign exchange for an unproductive asset class.

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