Ahmedabad News – Gold imports into Ahmedabad fell by 40 percent to 52 tonnes during October to March as consumers curtailed their intake of expensive foreign gold, data from the Customs and Excise department showed on Tuesday.

Gold prices were up 37 percent on year to $919.30 an ounce on Tuesday.

The metal rallied on rising fund inflows amid fears of a recession in the U.S., higher global inflation and the attractiveness of the commodities asset class to investors.

Gold imported into Ahmedabad caters to all of the Gujarat state and some of it even goes across to neighbouring states.

Ahmedabad is an important gold manufacturing hub from where gold jewellery lands up in the entire country and gets exported too.

The following are figures of gold imports procured from the Customs and Excise department in Ahmedabad in kilograms:

Month Import Month Import More Info