Wednesday, 14th April 2004 (2806 views)

Indian gold imports are increasingly coming from new sources such as South Africa, Australia and Hong Kong, according to latest figures.

Recent results show that South Africa exported R8,272 crore to India last year and is now the biggest exporter of gold to India.

Reportedly the change in gold sources is due to the change in import controls and huge growth in international pricing.

Imports of the yellow metal have nearly doubled from South Africa even though gold consumption dropped in 2003.

India is known as the largest consumer of gold and traders predict gold demand will continue to grow and demand on South African gold will continue to boom.

 

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