Gold surge: Imports hit record $14.72 bn in Oct; festive demand drives spike as trade deficit widens

India’s gold imports surged nearly threefold to a record $14.72 billion in October, driven by robust festive and wedding season demand. This significant increase pushed India’s trade deficit to an all-time high of $41.68 billion. Silver imports also saw a substantial rise, contributing to the overall surge in inbound shipments.