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Commodity Market: Gold imports rise in June

A data released by the government has revealed that the country’s gold imports rose 12.6% in the last month from a year earlier to $ 2.69 billion. Even though the price of the gold has gone high by to reach a six-year high it did not affect the imports.

But when compared to May’s imports the June’s imports were lower. The imports were 44% lower in June from May’s $ 4.78 billion.

Gold has recorded it’s highest price in the Indian market in the last month. India is the second largest consumer of gold in the world.  India imports gold mainly from Ghana and Peru. While refined gold is mainly imported from the UAE and Switzerland.

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