India's record-breaking love for gold stays that way despite $5bn cut in import numbers
6 days, 23 hours ago

India's record-breaking love for gold stays that way despite $5bn cut in import numbers

Firstpost  

India revised its November 2024 gold import figures to $9.84 billion, down 34 per cent from initial reports. The adjustment, linked to a calculation error, is expected to lower the record trade deficit of $37.8 billion reported for the month Erraneous calculatin in gold import numbers for November had pushed the trade deficit in India – calculated by measuring imports vs exports – to a record high. The initial surge in gold imports that ballooned India’s trade deficit was attributed to a calculation error that was reportedly flagged early on. In November, India’s trade deficit was reported to have climbed to an unprecedented $37.8 billion, driven largely by the erroneous gold import data that initially showed a four-fold increase to $14.86 billion from $3.44 billion a year earlier.

History of this topic

India Admits Gold Data Error That Pushed Trade Gap to Record
5 days, 7 hours ago
India Revises Gold, Silver, and Electronics Import Data for FY25
5 days, 23 hours ago
Stock market volatility boosts investments in gold ETFs in India: WGC
6 days, 10 hours ago
Gold price today January 9: Check latest rates in Delhi, Chennai, Mumbai, Kolkata and other major cities
Top News
6 days, 14 hours ago
Government revises November gold import figures from $14.8 billion to $9.9 billion
6 days, 14 hours ago
Gold googly bamboozles import data
6 days, 20 hours ago
$5 billion shock! India makes largest-ever revision to gold import estimates for November
Trending News
1 week ago
Gold price today January 8: Check latest rates in Delhi, Chennai, Mumbai, Kolkata and other major cities
1 week ago
Today Gold Rate 05-01-2025: Check latest prices in your city
1 week, 3 days ago
Today Gold Rate 03-01-2025: Check latest prices in your city
Top News
1 week, 5 days ago
Gold Price And Silver Rate Today on January 1, 2025: Check latest Rates in India
Top News
2 weeks ago
Gold set to extend record run; may hit Rs 90,000 in 2025 on global cues
2 weeks, 1 day ago
Gold price today December 31: Check latest rates in Delhi, Chennai, Mumbai, Kolkata and other major cities
Trending News
2 weeks, 1 day ago
Gold to continue its upward trajectory in 2025, gave a return of 20.3 pc in 2024: Experts
2 weeks, 2 days ago
India's current account deficit expected at 1.1% of GDP in FY25, says ICICI bank
2 weeks, 2 days ago
ICICI Bank forecasts 1.1% current account deficit for India in FY25 amid trade challenges
Trending News
2 weeks, 2 days ago
Today Gold Rate 28-12-2024: Check latest prices in your city
2 weeks, 4 days ago
India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report
2 weeks, 4 days ago
Gold price outlook: How will Trump 2.0 impact MCX gold rates in 2025? EXPLAINED
2 weeks, 4 days ago
Today Gold Rate 26-12-2024: Check latest prices in your city
2 weeks, 6 days ago
Today Gold Rate 25-12-2024: Check latest prices in your city
Top News
3 weeks ago
Rupee at 85 to a Dollar: Sinking Towards 100?
3 weeks, 2 days ago
Today Gold Rate 23-12-2024: Check latest prices in your city
Top News
3 weeks, 2 days ago
Why MCX gold rate outperformed Nifty 50, Sensex, Bank Nifty in YTD? Explained with 5 crucial reasons
3 weeks, 4 days ago
Mint Primer: How India’s trade gap soared, and how it might hurt
3 weeks, 5 days ago
India’s record gold import said to be due to calculation error
3 weeks, 6 days ago
Gold Steadies With Focus on Fed’s Rate Outlook for Next Year
4 weeks ago
Rahul Gandhi takes aim at BJP over trade deficit: ‘Govt prioritises crony businesses’
4 weeks ago
Rahul slams government over trade deficit touching all-time high
4 weeks ago
Rahul slams govt over trade deficit touching all-time high
4 weeks ago
Trade shocker: On November’s trade estimates
Trending News
4 weeks ago
India's Gold Imports Surge 132% in November
Trending News
4 weeks, 1 day ago
India's gold imports to plunge in December after record November
4 weeks, 1 day ago
Today Gold Rate 17-12-2024: Check latest prices in your city
Top News
4 weeks, 1 day ago
Record trade deficit adds to rupee’s challenges, may open to all-time low
4 weeks, 1 day ago
Trade deficit at a record $38bn as gold imports rise
Top News
4 weeks, 1 day ago
Trade deficit widens to a new high of $37.84 bn in Nov
4 weeks, 1 day ago
India’s Trade Deficit Widens to Record as Gold Demand Soars
Top News
4 weeks, 2 days ago
India’s imports rises to 27%, touches to record high of almost $70 billion
4 weeks, 2 days ago
Today Gold Rate 16-12-2024: Check latest prices in your city
Trending News
4 weeks, 2 days ago
Today Gold Rate 14-12-2024: Check latest prices in your city
1 month ago
US dollar, Fed rate cut to drive gold prices in 2025
1 month ago
Gold prices hit 2-week high at Rs 78,800/10 gms ahead of US inflation data
Trending News
1 month ago
Today Gold Rate 11-12-2024: Check latest prices in your city
1 month ago
Today Gold Rate 10-12-2024: Check latest prices in your city
1 month ago
Today Gold Rate 09-12-2024: Check latest prices in your city
1 month ago
Today Gold Rate 07-12-2024: Check latest prices in your city
1 month, 1 week ago
Gold price today: MCX gold rate retraces ₹2900 from record high. Buy or wait for more correction?
1 month, 1 week ago
Gold price today: Rates rise ahead of RBI policy, US payrolls data; experts highlight key levels for MCX Gold
1 month, 1 week ago

Discover Related