After rising 71% in Dec, five reasons why gold imports will halve in Jan

After rising by a staggering 71% in Dec 2017, the decline in imports this month has its roots in both tradition and economics

After a sharp rise in gold imports in the December, inward shipments of the precious metal are expected to halve in January. According to data from the ministry of commerce released on Monday (yesterday), gold imports in December 2017 were up 71 per cent to $3.39 billion. In tonnage terms this is 81 tonnes from 30 tonnes in December 2016.

However, a source tracking imports say, “In January, the import figure is expected to fall sharply and may halve from December.” Based on his analysis and talks with market players, there could be five reasons why January imports could be