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 imports
India’s Gold Imports Down 25% In First Quarter
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.
India Gold Imports Are Said to Have Slumped for Fifth Month
Gold Silver Reports (GSR) – India Gold Imports Are Said to Have Slumped for Fifth Month — India’s gold imports shrank 39% in May, according to a person familiar with the information, the fifth month of decline as the world’s second-largest consumer enters a seasonally weak period for demand. Imports contracted to 77.6 tonnes from 126.2 tonnes a year earlier, the person said, asking not to be identified as the figures aren’t public. The purchases exceeded the 52.7 tonnes in April and are the highest so far this year.
Gold Imports by India Are Said to Slump Before Key Day for Sales
Gold Silver Reports (GSR) – Gold Imports by India Are Said to Slump Before Key Day for Sales — Shipments plunged 47 percent to 64.2 metric tons in March from 121 tons a year earlier, the person said, asking not to be identified as the figures aren’t public. Imports in the first three months totaled 159 tons, down 42 percent from a year ago. Finance Ministry spokesman D.S. Malik didn’t answer a call to his mobile phone.
Indian Jewellers Shy Away as High Gold Prices Dent Appetite
Gold Silver Reports – Indian Jewellers Shy Away as High Gold Prices Dent Appetite — High local prices hit physical gold demand in India this week while activity in most other Asian centres remained subdued due to the Lunar New Year holiday.
India Gold Imports Said to Rebound Amid Signs India’s Tax Woes Fading
Gold Silver Reports – ✅ India Gold imports by India, the world’s second-biggest market after China, surged 37 percent in December after falling for three straight months, according to a person familiar with the data.
India’s ‘Grey Market’ in Gold Jumps 80% on Tax, New Rules
Gold Silver Reports – India’s ‘Grey Market’ in Gold Jumps 80% on Tax, New Rules – INDIA’s gold market has seen a surge in “unofficial” supplies according to analysts, defying the government’s push to tax and regulate the world’s second-heaviest consumer demand for the metal.