Symbol: GOLD| Contract: Aug, 2014 | Category: Bullion
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Gold's Latest News
Buoyed by a double digit growth in outbound shipments in June, exporters on Wednesday said the momentum was likely to continue in the coming months on the back of higher demand helped by an uptick in global economies and measures announced in the Uni...
Imports of gold in June 2013 were $1.88 billion. The high imports have marginally pushed up the country's trade deficit to $ 11.76 billion in June from $11.28 billion in the same month last year.
Marketmen said continued selling by stockists, triggered by a weakening global trend where gold fell to a three-week low as strength in dollar reduced demand for the metal as an alternative investment, mainly kept pressure on gold prices.
The trade deficit jumped to $11.76 billion last month from $11.23 billion in May, government data showed on Wednesday, boosted by a 65 percent annual rise in gold imports.
Bond prices were flat but gold fell as comments by Fed Chair Janet Yellen suggested that interest rates hikes could come sooner than anticipated if the labor market continued to improve.
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