Gold imports surge 3-fold to $3.85 bn in April
The Dollar Business Bureau India’s gold imports surged to $3.85 billion during April 2017, witnessing a three-fold rise, mainly due to increased demand on Akshaya Tritiya. In April 2016, the country’s gold imports were $1.23 billion, according to official data released on Monday. Imports of the yellow metal were on a downward trend between February-September 2016. The imports rose in the months of October and November but declined in December and January. In February and March this year, the imports of the precious metal recorded a high rate of growth. In March 2017, imports of gold had surged to $4.17 billion compared to $974 million in the same month in 2016. The rise in gold imports had led to a widening of trade deficit in April 2017 to $13.2 billion ...
E-retailers expect a boost in gold sales on Akshaya Tritiya
The Dollar Business Bureau E-retailers are betting big time on Akshaya Tritiya, the auspicious day for buying precious metals. Retailers like Bluestone and Amazon are expecting a boost in their gold and diamond jewellery on this special day. Amazon Fashion Category leader Mayank Shivam said that they are seeing a six- time growth in the sales on their offerings on Akshaya Tritiya compared to last year. Talking about the website traffic he said that they have grown 100 times compared to the previous year. He also added that the demand is more for the 22 carat gold, especially for necklaces and plain gold chains. This demand is apart from the bullion sale of gold which is under the top-selling category at this time. Arvind Singhai, ...
