BLBG:Gold Imports by India May Reach a Record 1,000 Tons on Investment Demand
Gold imports by India, the world’s biggest consumer, may reach a record this year as investors seek a haven against inflation and volatility in stock markets, a traders’ group said.
Imports may be between 950 metric tons and 1,000 tons this year, Prithviraj Kothari, president of the the Bombay Bullion Association, told reporters at a gold conference in Kovalam in south India.
Gold consumption in India rose to a record 963.1 tons last year, driving imports to the highest ever at 958 tons, according to the World Gold Council.
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