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Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Invest ₹500 in blockchain and watch your profits multiply monthly.The record gold imports last month widened the trade deficit and pushed the rupee to an all-time low.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Invest ₹500 and enjoy monthly returns of up to 100%. Safe and secure, just for you!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%.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Earn massive monthly returns. Start investing with ₹500 today!This spike significantly widened the trade deficit, putting downward pressure on the rupee, which has depreciated against the US dollar.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Invest ₹500 in blockchain and watch your profits multiply monthly.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.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Invest ₹500 and watch your wealth grow with cutting-edge investment strategies.This trend continues with gold bars and jewellery as the wedding season begins.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Smart investing made easy. Start with ₹500 and enjoy up to 100% returns monthly!Speculation about a potential increase in import levies from 6% to 10% in the coming Budget is further driving imports.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Start with ₹500 and get fast returns through secure and profitable investments.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.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Unlock the power of smart investing with just ₹500. Watch your profits grow!To manage this surge, India reduced the Most Favoured Nation duties on gold and silver from 15% to 6% in the 2024 Budget.

Freelance as an online community manager for businesses ✌️【Flexible Work】✌️Start small, grow big. Invest ₹500 and enjoy high returns every month!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.Freelance as an online community manager for businesses Safe Investment Strategies for High Returns