India’s trade deficit hit 4-month high of $6.77 billion in August 2020, thanks to higher gold imports

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After witnessing a rare trade surplus of $800 million in June, India’s trade deficit climbed to $ 6.77 billion, a four-month high. The latest surge is being attributed to a 171 per cent surge in gold imports, reflecting pent-up demand as well as elevated prices, with expectations of further imports in the run-up to the festive season. India’s […]

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India’s gems, jewellery export rise by 29% in August; imports also double even as prices touched record high

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Gems and jewellery exports rose by 29.18 per cent to Rs 13,160.24 crore ($ 1,764.06 million) in August compared with the previous month following gradual growth in demand in the US, China, Europe among others, the Gem and Jewellery Export Promotion Council (GJEPC) said. The total shipments in July stood at Rs 10,187.04 crore ($ […]

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Mining deals across the world slump by over $ 18 billion in value due to pandemic: GlobalData

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Global mining deal value, suffering from an unanticipated shock from the covid-19 pandemic, fell by over $18 billion when compared to the first half of 2019 to $46.6 billion in the first half of 2020, GlobalData reports. The global economic slump, steered by a series of challenges, has kept investors away from long-term financial instruments, […]

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Appetite for gold ETFs in Asia increased for the 9th successive month as global demand levels off: WGC

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Gold-backed ETFs and similar products recorded their ninth consecutive month of inflows in August 2020, albeit at their slowest pace for 2020, says a report from World Gold Council (WGC). Collectively, gold ETFs, added 39 tonnes during the month, equivalent to $ 2.1 billion or 0.9% of assets under management (AUM) as the price of […]

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Gems, jewellery exports to fall by 25-30% this fiscal due to COVID-19: GJEPC

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During the inauguration of India’s first virtual buyer-seller meet on loose diamonds, gems and jewellery industry projected India’s exports to decline by 25-30 per cent in the current fiscal as there was a “complete washout” of the first quarter due to lockdown. “There was a complete shutdown during the first quarter of this financial year […]

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