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February gold imports plunge a quarter on subdued demand

February gold imports plunge a quarter on subdued demand

Wednesday, March 7, 2018, 12:52 PM

Indias gold imports in February dropped a quarter from a year ago to 63-tonnes as higher prices curtailed demand in the worlds second-biggest consumer of bullion, provisional data from precious metals consultancy GFMS and bank dealers showed. The drop in purchases by India, though, which are still up nearly 8% from a mid-December trough, despite dropping back from a 17-month high hit at end-January.
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