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India’s Gold imports may decline to 50 tons in June: experts

from BullionStreet:

India’s gold imports are likely to fall below 50 tonnes this month due to sharp fall in exchange rate of rupee and high global prices of the precious metal, according to market experts.

“Weakening of rupee will have some impact on volume of gold import in June as well as in July,” Bombay Bullion Association (BBA) President (Emeritus) Suresh Hundia told PTI.

India had imported 50 tonnes of gold in June, 2012.

“But looking at the trend in the last 10 days, imports are likely to be less than 50 tonnes this month,” he said.

Read More @ BullionStreet.com

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