There has been a sharp increase in gold and silver imports in India, where gold imports increased by 200% and trade deficit reached 41 billion dollars. There was strong demand during Diwali-Dhanteras, along with global price increase, industrial demand and China’s restrictions also increased imports. Gold and silver are now being seen as alternative currencies in the world, hence the buying trend is strong. The government’s strictness on platinum jewelery imports is to prevent misuse and increase transparency. The demand for jewelery is expected to be good during the wedding season also, because people are now spending a large part of their budget on investment jewellery.
