In Indian Stock Market gold Imports May Drop

MCX Gold imports to India, the greatest customer, are likely to fall by as much as 26%, or by 200 to 250 tonnes, in 2012 as record high prices hit the budgets of consumers, said the head of Thomson Reuters GFMS on Friday. More Information about Stock Market visit my site

The south Asian country had imported a record 968 tonnes of the gold this year but greater transfer responsibilities and a moving rupee this year have assisted cut purchases.

Global stock Gold rate could rise to peak at USD 1,800 to USD 1,851 an ounce by the end of 2012, driven by surplus cash in the stock market and a weaker U.S. dollar, global head of analytics of the London-based firm, told reporters here on sidelines of an international MCX gold convention.

India MCX gold imports in the second quarter of 2012 plunged over 56% on the year to 131 tonnes, the World Gold Council has said.

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