India's imports of gold-silver alloy may almost double, refiner says

Section:

By Rajendra Jadhav
Reuters
Saturday, August 22, 2015

PANAJI, India -- India's imports of dore, a semi-pure alloy of gold and silver, are rising fast and could nearly double this fiscal year, the head of the country's top gold refiner said on Saturday.

A lower duty of 8.24 percent on dore, versus the overall tax of 10.30 percent on the import of refined gold, is pushing refineries to buy more.

Some new refineries have also added to demand.

"In the last few months, dore imports are going up," Rajesh Khosla, managing director of MMTC-PAMP India, said on the sidelines of the International Gold Convention in Panaji, capital of India's western resort state of Goa.

"With the current trend, its share in total imports could rise to 15 to 20 percent." ...

... For the remainder of the report:

http://in.reuters.com/article/2015/08/22/india-gold-idINKCN0QR0AG2015082...



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