For now, India brushes off concerns over gold import spike

Section:

By Suvashree Choudhury and Meenakshi Sharma
Reuters
Wednesday, April 29, 2015

MUMBAI, India -- Weak oil and commodity prices are offsetting concerns at India's central bank over the impact of a spike in gold imports on the broader economy, officials say, even as the industry forecasts another three months of strong buying.

A more sustained increase in bullion imports after June, however, could cause concern, a policymaker said.

While "we have the comfort from low oil prices, there is a large cushion and we don't need to be very concerned about the gold imports numbers," said one senior official involved in policy decisions, who declined to be named. Concern would kick in if imports stay at or over 100 tonnes a month after June, he said. ...

... For the remainder of the report:

http://in.reuters.com/article/2015/04/29/india-gold-imports-idINKBN0NK0R...



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