Bullion Tips : Gold imports declined by almost 37 % to 1.96 billion US Dollars in June, a growth which will help in keeping the current account deficit (CAD) in check. Imports of the precious metal stood at 3.12 Billion US Dollars in the same month of 2014. In May present year, the imports were worth 2.42 Billion US Dollars.

Decrease in gold imports helped in narrowing the trade deficit to 10.82 Billion US Dollars in June as against USD 11.76 billion in the same month previous year. India is the largest importer of gold, which mainly caters to the demand of the jewellery's industry. Although, larger imports of gold has also widened the present account deficit, which occurs when value of import of goods & services is more than exports, in recent past. The CAD in 2014-15 shorten to 1.3 % of GDP (27.5 Billion US Dollars) from 1.7 % (32.4 Billion US Dollars) in 2013-14. The Reserve Bank & Gov have maintained that the CAD level is comfortable.

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