Gold Imports Halted... Will Prices Rise?
Reuters reports that gold and silver imports by Indian banks have come to a standstill due to a delay in receiving necessary clearances from the Central Government (DGFT). Consequently, orders involving tons of these precious metals have been stalled, awaiting customs clearance. Foreign orders have effectively been put on hold as the annual import permits—typically issued at the beginning of April—have been delayed. As a result... Traders are concerned that a decline in domestic supply could lead to a rise in prices.
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