Gold import to Gujarat rises ahead of festive season

MTECHTIPS

Gold import to Gujarat rises ahead of festive season

Anticipating increase in buying of gold and gold jewellery during the festive season of Diwali in November, the jewellers in Gujarat are importing more gold. This could be gauged from the fact that monthly gold imports to the state has risen to 23.7 tonnes as on October 25.
As per the data available with Gujarat State Export Corporation Ltd (GSECL), the gold import to the state increased to 23.7 tonnes as on October 25 as against 12.7 tonnes in the month of September. The agency believes that the import is likely to further surge to 30 tonnes by the end of October.

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