Gold Shine continues on low side due to International market insight. India's gold imports could pick up in the second half of 2012 if record prices ease but annual volumes will still fall about 30% after a tax hike, which could crimp demand until 2014, the head of Mumbai's gold trade association said.Imports could hit 300 tonnes in the second half, up from 250 tonnes in January to June, if local prices steady around Rs 30,000 for 10 grams, said Prithviraj Kothari, president of the Bombay Bullion Association, keeping the annual fall to just 30%. Volumes are likely to stay flat in 2013, he added, as the impact of a doubled import duty continues and there are fewer festival days for traditional gift-giving.
India doubled its import duty on gold to 4% in March in a bid to reduce the value of imports and ease its current account deficit, helping to slash first-half imports by 58.7% to 250 tonnes.
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