by Adrian Ash, Gold Seek:
Legal inflows of gold to India – the world’s former #1 consumer nation – have been so dented by the government’s anti-import rules that the country’s trade deficit shrank to a 30-month low in September, officials said yesterday.
“This is working out as the government intended,” the Financial Express quotes commerce secretary S.R.Rao after India’s monthly trade deficit came in below $6.8 billion for the first time since April 2011.
Many Indian households have turned to silver says the Economic Times, with silver imports already doubling 2012’s full-year total over the Jan-Aug. period at 4,073 tonnes according to Thomson Reuters GFMS.
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