Surge in gold imports last month contributed to the widening of trade deficit to $11.64 billion as against $7.7 billion in August 2016.
Symbol: GOLD| Contract: Oct, 2017| Category: Bullion
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Trade deficit widened to $11.64 billion in the month under review from $7.70 billion in August 2016, due to increase in gold imports, which rose by about 69 per cent to $1.88 billion in August.
Spot gold was down 0.2 percent at $1,320.21 an ounce by 0048 GMT, after earlier dropping to its lowest since Sept. 1 at $1,318.96.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity bounced Rs 470 each to Rs 31,000 and Rs 30,850 per 10 grams, respectively.
Globally, gold after hitting one-year high of $1,357.64 an ounce, fell 0.19 per cent to $1,346 an ounce and silver by 0.91 per cent to $17.93 an ounce in New York in yesterday's trade.
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