{"id":152318,"date":"2021-12-10T20:50:29","date_gmt":"2021-12-10T15:20:29","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=152318"},"modified":"2021-12-10T20:53:12","modified_gmt":"2021-12-10T15:23:12","slug":"imports-made-up-86-of-gold-supply-in-2016-20-says-wgc","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/imports-made-up-86-of-gold-supply-in-2016-20-says-wgc\/","title":{"rendered":"Imports made up 86% of gold supply in 2016-20, says WGC"},"content":{"rendered":"\n
What is the News?<\/b><\/h5>\n

The<\/span> World Gold Council (WGC)<\/span><\/a> has released a report titled \u2018Bullion Trade in India’.<\/span><\/p>\n

What are the key findings of the report?<\/b><\/h5>\n
India\u2019s Gold Imports<\/b><\/h6>\n

India is the world\u2019s second-largest gold consumer. However, the country is heavily dependent on imports to fulfil this demand.\u00a0<\/span><\/p>\n

Over the five-year period 2016-2020, imports made up 86% of India\u2019s gold supply<\/span>. Higher gold imports can have a negative impact on the country\u2019s balance of trade.<\/span><\/p>\n

Gold Import Locations<\/b><\/h5>\n

In 2020, India imported 377 tonnes of gold bars and dore from over 30 countries, of which 55% came from just two countries \u2014 Switzerland (44%) and the UAE (11%).<\/span><\/p>\n\n\n\n
Read more<\/strong>: DRI seizes of 85.535 kg gold, apprehends 4 foreign nationals in Operation \u201cMolten Metal\u201d<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Increase in Gold Dor\u00e9 Imports<\/b><\/h6>\n

One important change that has taken place in India\u2019s gold market is the growth in gold dor\u00e9 imports. The increase in dor\u00e9 imports reflects the government\u2019s accommodative stance towards gold refining.<\/span><\/p>\n\n\n\n
Note: <\/b>A dor\u00e9 bar is a semi-pure <\/span>alloy<\/span> of gold and silver. It is usually created at the site of a mine and then transported to a refinery for further purification.<\/span><\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: <\/b>This post is based on the article<\/span> \u201c<\/b>Imports made up 86% of gold supply in 2016-20, says WGC<\/b>\u201d<\/b> published in <\/span>The Hindu on 10th Dec 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

What is the News? The World Gold Council (WGC) has released a report titled \u2018Bullion Trade in India’. What are the key findings of the report? India\u2019s Gold Imports India is the world\u2019s second-largest gold consumer. However, the country is heavily dependent on imports to fulfil this demand.\u00a0 Over the five-year period 2016-2020, imports made… Continue reading Imports made up 86% of gold supply in 2016-20, says WGC<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,1305,9],"tags":[10498],"class_list":["post-152318","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-index-reports-bodies","category-public","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/152318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=152318"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/152318\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=152318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=152318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=152318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}