India Hits Record High Gold Imports

India is the largest gold importer in the world currently. 2010 was a record setting year for them. An estimated 918 metric tons of gold was purchased in 2010 which exceeds the 800 ton expectation.

“India was the strongest growth market in 2010,” said the report. “The rising price of gold, particularly in the latter half of the year, created a ‘virtuous circle’ of higher price expectations among Indian consumers, which fuelled purchases, thereby further driving up local prices.”

http://www.bloomberg.com/news/2011-02-17/gold-imports-by-india-reach-record-on-jewelry-sales-group-says.html

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One Response to India Hits Record High Gold Imports

  1. Gold is most popular in India cause South Asian woman like gold jewelry. Beside money, they debit jewelry for future.

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