New Delhi, May 14 -- The customs duty hike of 15 per cent will play its effect on the consumption pattern of gold, an SBI report released here said on Thursday.
The report said that the current hike may see similar trends as in past, and with the strong negative volume effect of the past two years, there will be some downward adjustment in volumes.
"We expect that the current hike in duty may see similar trends as seen in past. However, we also feel that given the strong negative volume effect seen in the recent two years, there will be some downward adjustment in volumes, the extent of which is, however, uncertain," SBI predicted.
SBI noted that the gold imports have diverged in volume and value terms in recent trends. These value trend...