India imported gold worth $6.15 billion in February 2024, which is 2.3 times higher than the same period last year. writes about this Interfax Based on data from Ministry of Commerce and Industry of India.
In the first two months of 2024, precious metals worth $8.06 billion were imported to the country, which is 2.4 times more than January-February 2023.
However, Prithviraj Kothari, President of India Gold and Jewelery Association guess In comments made to Reuters, it was stated that there was a sharp decline in imports in March due to record high gold prices.
“Consumers cannot handle the current price level,” he said.
According to him, if the price of gold remains at current peak levels, it will negatively affect demand during the current wedding season, when consumption of precious metals traditionally increases.
Before this, the unexpected rise of gold prices reached peaks. shocked analysts
Previous experts guess Gold prices continue to rise