India's gold and silver imports are expected to have declined substantially to USD 2-2.5 billion in June following recent steps taken by the government as well as the RBI to curb imports of the yellow metal.
. These imports grew 89 per cent to USD 8.39 billion in May
The final figures for gold and silver imports will be released by the Commerce Ministry by the middle of this month.
I'm sure the black market is picking up a lot of the slack but 8 billion to 2 billion is a big drop...