Whalesbook
India's trade deficit surged to $21.8 billion in October, more than double last year's $9.05 billion. This was driven by a surprising tripling of gold imports to $14.7 billion and a fivefold spike in silver imports to $2.7 billion, despite record high prices. Demand has shifted from jewelry to investment products like bars and ETFs, posing a risk to the trade balance.