India cuts Nov. gold imports by record $5 billion

After miscalculation, India cuts April-November gold import estimate by $11.7 billion
India sharply revised lower its April-November 2024 gold import estimate by $11.7 billion in data released on Thursday after figures were miscalculated due to some double counting. The government has revised its gold import estimate to $37.
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Government revises gold imports downward by $5 billion in November
The commerce department has revised downward the value of gold imports by over $5 billion to $9.8 billion in November, while also lowering the number for April-November from $49 billion estimated last month to $37.
India cuts November gold imports by record $5 billion
India has cut its November gold import estimates by an unprecedented $5 billion, the largest revision for any commodity in history, after errors in preliminary calculations inflated the figure to a record,
India revises November gold import data, uncovering $5 billion error
India's gold import figures for November have been revised sharply downward to $9.8 billion, significantly lower than the previously announced $14.8 billion, according to data from the Directorate General of Commercial Intelligence and Statistics (DGCIS) released on Wednesday.

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