Gold - India’s H1 2017 imports have already passed 2016 totals

here's one for the gold traders, this comes via the folks at Kitco:

In brief (full piece at that link above):

  • first half of 2017, imports came in at 521 tonnes, beating the totals from the entire previous year (510 tonnes)
  • Reasons for the climb were lower gold prices and preparations ahead of the new 3% goods and services tax (GST) that is being rolled out in July
  • gold imported by India on an annual basis during the past five years averaged around 709 tonnes

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