high prices curb india gold imports
Last Updated : GMT 20:39:51
Arab Today, arab today
Arab Today, arab today

High prices curb India gold imports

Arab Today, arab today

Arab Today, arab today High prices curb India gold imports

Mumbai - Arabstoday

Gold imports by India will decline for the first time in three years in 2012 as rising prices deter jewellery buyers and investors, potentially allowing China to overtake the South Asian nation as the world\'s largest consumer. Imports may drop 7.1 per cent to 900 metric tonnes this year, according to the median estimate in a Bloomberg News survey of eight analysts, brokers and jewellers including Rajesh Exports, the biggest gold-jewellery exporter. India bought a record 969 tonnes in 2011, according to the World Gold Council. Falling Indian imports may help to halt a rally in prices that\'s set for a 12th year. Gold has gained as investors seek to protect their wealth from volatility in stock markets, depreciating currencies and the threat of inflation. \"If we see higher gold prices, it implies lower imports into India,\" Jeffrey Rhodes, head of precious metals at INTL Commodities, said in a phone interview from Dubai. \"The higher the gold price, the same amount of money buys less.\" Imports plunged 44 per cent in the fourth quarter to 157 tonnes as jewellery demand slumped 44 per cent to 103 tonnes and investment demand declined 38 per cent to 70 tonnes, the council said on February 16. Annual gold demand fell 7 per cent to 933.4 tonnes in 2011, compared China\'s 769.8 tonnes, it said. Bullion futures in India rallied 32 per cent last year, touching an all-time high and exceeding the ten per cent advance in global prices, as the local currency slumped to a record low against the dollar. Higher prices cooled demand among investors and jewellery buyers, said Ramesh Pahlajani, partner at Bherumal Shamandas Jewellers. \"With the prices of gold going up, nothing fits into the budget of the customer,\" Pahlajani said in an interview. \"Demand for gold has been quite subdued.\" Bridal trousseau In India, gold is traditionally bought during festival seasons and for marriages as part of the bridal trousseau. The number of days this year considered to be auspicious for weddings will be the fewest since 2004, potentially trimming gold demand, Ajay Mitra, managing director, Middle East and India at the council, said last week. \"The amount of gold I buy has been reduced and we have to budget our expenses,\" said Khushboo Jain, 24, while shopping in Zaveri Bazaar, Mumbai\'s main jewellery market, ahead of her April wedding. \"I am buying for my marriage and in the future it will be an investment for me in times of financial crisis.\" Gold for immediate delivery rose 0.5 per cent to $1,731.35 (Dh6,359.59) an ounce in Singapore on Monday. The metal reached a record $1,921.15 an ounce in September.  

arabstoday
arabstoday

GMT 03:39 2017 Friday ,24 November

European markets wobble amid US Thanksgiving holiday

GMT 22:09 2017 Thursday ,23 November

Bahrain Bourse daily trading performance

GMT 02:02 2017 Thursday ,23 November

Asian markets rally after Wall St lead, euro struggles

GMT 22:40 2017 Wednesday ,22 November

Bahrain Bourse daily trading performance

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

high prices curb india gold imports high prices curb india gold imports

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

high prices curb india gold imports high prices curb india gold imports

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday