Informal Gold shipments to India rose sharply in the third quarter, reaching their highest level since 2023, as a government duty increase encouraged the use of unofficial channels, according to a World Gold Council report.
Shipments from July through September totaled 50 metric tons, up from 3 tons in the same period a year earlier — an increase of more than 1,500%. The producer-funded group cited data from consultancy Metals Focus.
The report did not explain how informal gold shipments are tracked.
Sources: Bloomberg Markets.