Gold-supplying banks cut back shipments to India, focus on China, Turkey: Report

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focussing on China, Turkey, and other markets where better premiums are offered, Reuters reported. India's gold imports in September fell 30% from a year ago to 68 tonnes, while Turkish gold imports soared 543%. China's net gold imports via Hong Kong jumped nearly 40%.