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Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Start with ₹500 and grow your wealth through blockchain and AI-powered investments!The record gold imports last month widened the trade deficit and pushed the rupee to an all-time low.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Smart investments start with ₹500. Grow your wealth with minimal risk!While a calculation error may have led to overestimating the imports, there could be other factors at play also, explains Ajay SrivastavaIndia’s gold imports reached an all-time high of $14.9 billion in November 2024, far exceeding the monthly average of $3.8 billion for FY 2024, when total gold imports were $45.5 billion.
In November, gold accounted for 21.2% of India’s total merchandise imports of $70 billion, surpassing crude petroleum as the largest single import item for the first time.Gold imports in November 2024 surged by 331.4% compared to the same month in 2023.
Excluding gold, India’s merchandise imports would have grown by only 6.7%, against the reported 27.04%.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Begin investing today with ₹500 and achieve reliable, high returns every month.This spike significantly widened the trade deficit, putting downward pressure on the rupee, which has depreciated against the US dollar.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Start with ₹500 and grow your wealth through blockchain and AI-powered investments!A weaker rupee further raises import costs, worsening the current account deficit.The cut in import tariffs from 15% to 6% in the last Budget made domestic gold prices more competitive with global rates, encouraging legal imports and boosting its appeal as a long-term investment.
Imports have also risen as investors seek safer options amid overheated stock markets.
During Diwali, demand for gold coins, especially in 20, 50, and 100-gram sizes, exceeded supply, with premium pricing.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Start with ₹500 and enjoy consistent, high returns with smart investment strategies.This trend continues with gold bars and jewellery as the wedding season begins.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Invest ₹500 and grow your wealth through secure, high-yield opportunities.Speculation about a potential increase in import levies from 6% to 10% in the coming Budget is further driving imports.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Start with ₹500 and enjoy up to 100% returns monthly. Make your money work for you!Traders anticipate quick gains if tariffs rise, while rising global prices reduce the risk of losses even if tariffs stay the same.The India-UAE Comprehensive Economic Partnership Agreement (CEPA), effective from May 1, 2022, has boosted imports of gold,silver, and platinum by offering low-duty access.
Dubai does not mine gold; instead, gold from other countries is minimally processed locally to meet CEPA norms and then routed to India.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️₹500 is your key to high monthly profits. Invest now for big returns!To manage this surge, India reduced the Most Favoured Nation duties on gold and silver from 15% to 6% in the 2024 Budget.
Scalable compute for AI models in cloud ✌️【Temp Worker】✌️Invest ₹500 and experience exponential growth every month. Safe, smart, profitable!This, however, provided only temporary relief as CEPA will gradually cut tariffs on these imports to zero in the next few years. Thus, in August, the government decided to review its pact with the UAE to revoke these concessions and control the surge.Gold enters India primarily as bars and rods with 99.Scalable compute for AI models in cloud Simplified Wealth Management with Great Results