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Gold import shrinks 24 per cent to USD 23 billion in Apr-Feb FY17

Indias gold import witnessed a fall of about 24 per cent to USD 23.22 billion in April- February period of the last fiscal, which is expected to keep a lid on the current account deficit.

 
 
Gold prices were trading lower by Rs 108 to Rs 28,338 per 10 grams in futures trade on Friday as participants cut down their holdings amid a weak global cues.
US West Texas Intermediate (WTI) crude oil futures were trading at $51.97 per barrel at 0134 GMT, down 15 cents from their last settlement.
International Brent crude oil futures were trading at $53.66 per barrel at 0242 GMT, down 28 cents, or 0.52 percent, from their last close.
The gold demand stood at 1,104.8 tonnes in the corresponding quarter last year, according to the WGC's 'Q3 2016 Gold Demand Trends' report.
Gold prices stayed firm on Wednesday as stronger physical demand for the precious metal, ahead of India's late-October festival season, offset a firm US dollar.
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