The jewellers in Gujarat are importing more gold, anticipating increase in buying of gold and gold jewellery during the festive season of Diwali this month. This could be gauged from the fact that the monthly gold imports to the State had risen to 23.7 tonnes as on Oct. 25.As per the data available with Gujarat State Export Corporation Ltd (GSECL), the gold import to the State increased to 23.7 tonnes as of Oct. 25 as against 12.7 tonnes in the month of September.
“The main reason behind the rise in gold import is the upcoming festive season. Apart from jewellery, people also buy physical gold during Diwali. The October gold import is two times the normal monthly import witnessed during the year. The normal monthly gold import in Gujarat hovers around 10-12 tonnes,” said Mr. Samir Mankad, whole time director, GSECL.
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