GOLD EYES INDIAN DEMAND TRENDS

Published on Oct 19, 2020 11:35

COMEX Gold fell substantially on Friday as highs around $1820 per ounce mark failed to sustain amid corrective moves in commodities and frail Indian demand. India`s Gold imports stood at Rs 4419 crores in September 2020, down 51.43% compared to September 2019. Gold imports in April-August 2020 are down by 54% at Rs 50657 crore. Gold imports also crashed compared to Rs 27647 crore in August. India`s Silver imports in September 2020 were at just Rs 69 crores, down 94% compared to same month last year. Total Silver imports in April-August 2020 also fell by 60% to 5543 crores. The metal ended down 0.32% at $1902 per ounce.