After a sharp increase in April and May, gold imports are expected to come down significantly in June, due to the Reserve Bank of India (RBI) blocking the consignment import route for the domestic market and the central government imposing a two per cent additional import duty.
“In June, hardly 40 tonnes of gold would be imported, as there is a huge carried-forward stock in the market from the past two months,” a veteran bullion analyst said. A little over 100 tonnes has been carried forward.
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