India Holds Off on Gold Imports

India’s imports of gold have halted since July 22, sending premiums for scarce stocks soaring, as traders in the world’s biggest bullion buyer try to puzzle out new central bank rules that tie imports to export volumes.

In its battle to rein in a record trade deficit, India has targeted gold, the second-biggest item in its import bill after crude oil.

India doubled its import duty to 8 percent from the 4 percent where it stood at the beginning of the year, and also requires a fifth …

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