2017 ends on a strong note, Dec gold imports rise by 841%

Ending 2017 on a bright note, gold imports in Ahmedabad jumped by more than eight times in December, import data shows.

GSECL, which handles cargo at the Sardar Vallabhbhai Patel International (SVPI) Airport, said on Monday that 13.18 tonne gold was imported at the Air Cargo Complex in December 2017. This was 841% higher than 1.40 tonne imported in the same month of previous year.

The data shows that gold import at Ahmedabad in December 2017 was the second highest in over a year after November 2017, when import of the yellow metal stood at 14.40 tonne.

For calendar year 2017, Ahmedabad airport recorded gold import of 85.54 tonne, an increase of 74% over 2016, when the import was to the tune of 49.1 tonne, GSECL data shows.

In spite of the sharp rise, import of the yellow metal is a long way off from the highs seen until a couple of years ago. The data shows that nearly 101 tonne gold was imported at the airport in 2015, 134 tonne in 2014, 147 tonne in 2013, and 80 tonne in 2012.