Gold imports, which have a bearing on the country’s current account deficit (CAD), fell 3.3% to $26.11 billion during April-February 2020-21, according to the commerce ministry data.
Gold imports, which have a bearing on the current account deficit, fell 6.77 percent to $23 billion during the current financial year 2019, According data from the commerce ministry.
The two-day FOMC meeting begins Tuesday morning and ends Wednesday afternoon with a statement. The FOMC is expected to slightly raise U.S. interest rates at this meeting. Fed Chairman Jerome Powell will also hold a press conference after the meeting. As usual, the marketplace will parse the Fed’s wording for clues on the pace of future Fed rate hikes and the Fed’s inflation expectations.
Gold Silver Reports (GSR) – Gold imports had amounted to $11.26 billion in the corresponding quarter of last financial year. The imports of the metal have been declining since January this year. Contraction in gold imports help contain the current account deficit.