Gold | Asia

Gold imports to Indian increase while gold bars decrease demand

According to the Financial Chronicle reports, Imports of gold to the Indian market continue to grow, with the exception of gold bars.

Gold bars - which are typically imported only for export purposes - have seen decreased demand since the beginning of the year.

However, forms of the precious metal intended for use within the country have risen, with steady growth reported in jewellery supplies.

 India is not a large domestic producer of gold itself, meaning that it typically imports the metal for both its own market and to serve exports later.

In the case of gold bars, this can see them purchased from abroad, turned into jewellery and then sold back out of India.