Mumbai, April 25: Gold imports in March stood at 27.8 tonne compared to nil in the same month last year as demand rose due to decline in prices to Rs 16,000 level from the peak of Rs 18,500 per 10 grams in December 2009.
According to experts, the imports rose due to increase in the investment demand for the precious metal, which is slightly bullish at present.
Moreover, they said, the prices are still a lot below the record high level of Rs 18,500 per 10 grams achieved during December 2009, they added.
Echoing the same view, Bombay Bullion Association Director Suresh Hundia said, “The shipments depend on gold price, which ruled at Rs 16,200 level in March.”
He said prices again started climbing from first week of April, which may reflect negatively on this month’s import figure.
–PTI