Earlier expectations of gold imports touching 1,000 tonnes in 2011 have been belied, with a steep fall in imports in recent months.
Gold imports in India are estimated to have declined by 50 per cent to 30 tonnes during June-July.
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
Jewellers sold huge quantities of precious ornaments at a premium of up to 50%.
The coins can have the face and names of the owner embossed on them.
Import bill for September rises to $3.5-4 billion as traders and retailers stock up the precious metal.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
Gold bullion purchases across Asia slowed this week as a long rally in prices discouraged buyers.
For easy and wide access, the government plans to market the bond through post offices and various brokers.
In dollar terms, however, gold prices jumped by 26 per cent this calendar year, following sharp jump in hedge funds' long position
A downturn in Indian demand could hit global gold prices.
Levy in India one of the highest in the world; finance minister urges banks to tell customers not to invest in the metal.
Dealers anticipated a sharp rise in jewellery demand this wedding season, but then came demonetisation.
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