- High gold imports are being driven by global prices, involving 25,000 tonnes of privately held gold.
Gold Fund Investments Drive Up Import Bill Amid Current Account Concerns
1 report, 1 independent
Updated Oct 16
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What happened
Fund houses have stopped accepting fresh investments in their gold fund of funds (FoFs). This comes as inflows into gold mutual fund offerings have rebounded, adding to the nation's import bill.
Why it matters
The high gold imports, which are driven by global prices and involve 25,000 tonnes of privately held gold, are contributing to worries about the current account deficit.
High gold imports are being driven by global prices, involving 25,000 tonnes of privately held gold.
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