Gold Silver Reports — India, which vies with China as the world’s top gold consumer, saw a fourfold increase in imports of the precious metal in May as traders stocked up fearing that the government would fix a higher rate for jewelry under a new national goods tax to be implemented from next month.
Gold Silver Reports — China, the world’s biggest gold market, may boost imports through Hong Kong by about half this year as local investors seek to protect their wealth from currency risks, a slowing property market and volatile stocks, according to the Chinese Gold & Silver Exchange Society.