Gold Imports doubled in past 6 months

     Written by : SMTV24x7 | Mon, Oct 16, 2017, 11:19 AM

Gold Imports doubled in past 6 months

Mumbai Oct 16: The Gold imports have been doubled in the first 6 months of the current fiscal year and are currently at $ 16.95 billion. The data was released by the Commerce Ministry.

Experts have said that the increase in imports of the yellow metal has lead to widening the Current Account Deficit CAD. For the Financial year 2016-17 April-September the gold imports stood at $ 6.88 billion.

For September 2016 the gold import was at $ 1.80 billion whereas for the month of September 2016 the gold import reduced by 5 % and stood at $ 1.71 billion. The country's CAD has fallen to 7 month low.

However, experts have said that the gold imports will increase in October because of Diwali festival.