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Imports | Gold imports may match 2009 on confidence

Imports | Gold imports may match 2009 on confidence
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First Published: Mon, Apr 12 2010. 10 40 PM IST
Updated: Mon, Apr 12 2010. 10 40 PM IST
Mumbai: Gold imports this year by India, the biggest user of the metal, may match or exceed the amount bought in 2009, as economic growth and a stronger local currency boost consumer confidence, the World Gold Council said.
“The trend we’ve been tracking since Q4 of 2009 has been a spurt in demand, and in the two months of this year, January and February, the trend continues,” Ajay Mitra, the council’s managing director for the Indian subcontinent and West Asia, said in an interview in Mumbai.
Purchases last month through to 25 March were 28-30 tonnes, up from 4.8 tonnes a year earlier, the Bombay Bullion Association had said earlier. Imports this year won’t be less than in 2009, the association’s president Suresh Hundia had said.
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First Published: Mon, Apr 12 2010. 10 40 PM IST