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Indian banks halt gold and silver imports amid delay in govt. clearance, sources tell Reuters
By Rajendra Jadhav
Reuters
Friday, April 17, 2026
MUMBAI, April 17 (Reuters) -- Indian banks have halted gold and silver import orders from overseas suppliers, with tons of the metals stuck at customs as a formal government order has not been issued authorizing bullion imports, trade sources said.
Without fresh imports, India could face supply shortages, as the world's second-largest gold consumer and biggest silver buyer relies on overseas purchases to meet nearly all its demand.
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Weak Indian demand could weigh on global gold and silver prices , while narrowing the country's trade deficit and supporting the rupee, which has been among the worst-performing Asian currencies so far this year.
Authorities have carried out various measures designed to reduce pressure on the currency, including most recently urging refineries to curb their spot dollar purchases.
The halting by Indian banks of gold and silver import orders from overseas suppliers and the tons of the metals stuck at customs due to the absence of a formal government order authorizing bullion imports have not been previously reported. ...
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