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Wednesday, 14th April 2004 (4186 views)

Indian gold imports are increasingly coming from new sources such as South Africa, Australia and Hong Kong, according to latest figures.<BR/><BR/>Recent results show that South Africa exported R8,272 crore to India last year and is now the biggest exporter of gold to India.<BR/><BR/>Reportedly the change in gold sources is due to the change in import controls and huge growth in international pricing.<BR/><BR/>Imports of the yellow metal have nearly doubled from South Africa even though gold consumption dropped in 2003.<BR/><BR/>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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