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India Gold Imports Dip After Brief Rebound as Prices Curb Demand

Gold imports had risen in July and August as jewelers readied stocks ahead of festivals.

Photographer: Sanjay Kanojia/AFP via Getty Images

Gold imports by India slumped in September after a short-lived rebound as high prices prompted buyers to defer purchases.

Inbound shipments into the world’s second-biggest bullion consumer fell 38% in September from a year earlier to 8.4 tons, according to a person familiar with the data, who asked not to be identified as the information isn’t public. Imports were down from 35.5 tons in August. Finance Ministry spokesman Rajesh Malhotra didn’t immediately respond to a call to his mobile phone.

Weak Appetite

India’s gold imports dip again in September

Source: India’s Finance Ministry Official

Imports had risen in July and August as jewelers readied stocks ahead of festivals. But demand has cooled as buyers hold off on purchases in a bet that prices

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Smartphone sales to dip 20%

Mr Chanon, centre, promotes three new Oppo models of 5G-enabled smartphones.
Mr Chanon, centre, promotes three new Oppo models of 5G-enabled smartphones.

Thailand’s smartphone market is expected to decline 20% this year as the pandemic takes a toll on customer sentiment and 5G-enabled smartphone adoption, says Chinese smartphone maker Oppo.

5G-compatible handsets are expected to gain momentum by the first quarter next year, driven by devices priced lower than 10,000 baht, affordable 5G data packages and users’ demand for a rich experience.

Korean smartphone giant Samsung last month rolled out Galaxy S20 FE5G with a base price of 23,900 baht for its flagship S20 model. Apple is expected to unveil a 5G-compatible iPhone 12 this month.

“Smartphones have seen less impact from the pandemic than other sectors,” said Chanon Jirayukul, senior executive vice-president of Oppo Thailand.

“The smartphone market is likely to see a drop of 20% in 2020 from 14 million units in 2019, assuming there is not a second

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