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Indian banks resume gold and silver imports
May 13, 2026
Indian banks resume gold and silver imports
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Reuters citing industry and government sources report that Indian banks, after suspending imports for over a month, have resumed importing gold and silver. Previously, banks paused the import of related goods due to a 3% tariff, but now they have agreed to pay the tariff. This move is expected to boost the country’s gold imports. Agree to pay 3% tariff India is the world’s second-largest gold buyer after China. Increased local demand could support global gold and silver prices. …
(Excerpt)