Gold imports into India have dropped sharply. The government's decision to increase import duty is proving effective. Higher gold prices and reduced jewellery demand also contributed to this trend. Increased global gold recycling is another factor. Official gold inflows have also moderated. The government is not pursuing gold monetisation due to past challenges.

During May, India's gold imports skyrocketed by 34 percent, hitting USD 3.41 billion, as soaring gold prices fueled demand. In stark contrast, silver imports fell steeply by 86.65…

India’s silver imports fell 87% in May to a 3-year low after curbs and duty hikes, hitting volumes and potentially impacting global silver prices.

May witnessed a steep decline of over 81% in India's silver imports, a result of the government's recent moves to hike import duties and require licenses for incoming shipments.…