India: Gold imports lift trade deficit

A surge in gold imports widened India’s trade deficit to an 11-month high last month, adding to the uncertainty from global oil prices that could pile more pressure on its current account balance. The trade deficit swelled to $11.76 billion (R126bn) last month, its highest level since July last year, after a central bank decision to ease tough gold import rules led to a 65 percent annual rise in overseas purchases of the yellow metal. – Reuters