Indians diversify into gold coins, bars and jewellery because it never fails them in an emergency
Mint takes a look at India’s love for gold
The price of gold crossed ?40,000 per 10g last week. Since the beginning of this fiscal, gold prices have surged by around 25%, driving down gold imports by a fifth during the same period. Mint takes a look at India’s love for gold.
By how much have gold imports reduced?
Between April and November, India imported 533,376kg of gold, around 20.3% less than 669,339kg imported during the same period in 2018. This is hardly surprising since gold has turned costlier this fiscal.