Silver Imports in India are on track to meet a record this year, wedding and festival season on raises the purchase of the precious metals rather than traditional gold, made it more understaffed and pricier by formal measures taken to reducing the trade gap.
The increase in the purchase is unlikely of provoking a crisp policy response from authorities, as in for gold since the value of silver that imported is much less than the gold and thus it is not critical to the trade balance. In accordance with metals consultancy GFMS, India imported 4,073 tonnes of silver between January and August more than twice as many 1,921 tonnes in 2012 as a whole, when a rise of prices the demand peak seasonal injured. The record was set of 5,048 tons in 2008.
In other hand, gold & Silver imports declined by more than 80 percent to $ 0.8 billion in September as a result of a series of steps made by the government to curb inbound shipments for precious metals, a development that will help to reducing the current account deficits records. India, as well the world's biggest buyer of gold, has increased the duty on imported gold three times this year, bringing it to by 10 percent, and in July the government has said that importers that a one fifth of your purchases will must give the export back, leaving only 80 percent for household use.
Commodity Market Trading Advisory 100McxTips.com, Offers Some Trading Ideas for MCX.
The increase in the purchase is unlikely of provoking a crisp policy response from authorities, as in for gold since the value of silver that imported is much less than the gold and thus it is not critical to the trade balance. In accordance with metals consultancy GFMS, India imported 4,073 tonnes of silver between January and August more than twice as many 1,921 tonnes in 2012 as a whole, when a rise of prices the demand peak seasonal injured. The record was set of 5,048 tons in 2008.
In other hand, gold & Silver imports declined by more than 80 percent to $ 0.8 billion in September as a result of a series of steps made by the government to curb inbound shipments for precious metals, a development that will help to reducing the current account deficits records. India, as well the world's biggest buyer of gold, has increased the duty on imported gold three times this year, bringing it to by 10 percent, and in July the government has said that importers that a one fifth of your purchases will must give the export back, leaving only 80 percent for household use.
Commodity Market Trading Advisory 100McxTips.com, Offers Some Trading Ideas for MCX.
- MCX Gold ( December futures ) : Buy - 29200 , Target - 29 600 , with a stoploss - 29050
- MCX SILVER ( December futures ) : Sell - 49600 , with a stoploss - 49 990 and Goals - 48 562
- MCX Crude oil (OCT futures ) : Sell - 6459 , with a stoploss - 6499 and target - 6365
- MCX Natural Gas (OCT futures ) : Sell - 232.50 , target - 227 , with a stoploss - 236
- MCX Aluminum (OCT Futures ) : Buy - 114.50 , target - 117 , with a stoploss - 113
- MCX Nickel (OCT Futures ) : Buy - 860 , Goals - 890 , with a stoploss - 840
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