根据世界黄金协会的一份报告，由于政府提高关税刺激了非官方渠道的使用，印度第三季度非法黄金进口激增至2023年以来的最高水平。
India’s illegal gold imports surged to the highest since 2023 in the third quarter as a government duty hike spurred use of unofficial channels, according to a report from the World Gold Council.
该由生产商资助的组织称，引用咨询公司Metals Focus的数据，7月至9月的非正规货运量较去年同期的3吨激增逾1500%，达到50公吨。该报告未提供关于该贸易如何被追踪的细节。
Informal shipments for July to September jumped more than 1,500% to 50 metric tons from 3 tons a year earlier, the producer-funded group said, citing data from consultancy Metals Focus. The report gave no details on how the trade is tracked.
此类进口通常通过避开官方关税的渠道进行，如走私或个人携带少量入境。世界黄金协会补充称，过去税收上调往往会“增加动力”，促使黄金通过此类渠道流入。
Such imports typically go through avenues that avoid official duties, like smuggling or small quantities brought in by individuals. In the past, tax hikes have tended to “increase the incentive” for inflows through such channels, WGC added.
自今年早些时候政府将黄金和白银的进口税提高一倍多至15%，作为遏制购买努力的一部分，以应对因能源价格上涨导致的贸易逆差不断扩大，全球第二大黄金消费国的非正规金条市场蓬勃发展。
The informal bullion market in the world’s second-largest consumer has flourished since the government more than doubled import levies on gold and silver to 15% earlier this year. The move was as part of efforts to curb purchases as India tackles a ballooning trade deficit due to higher energy prices.
印度人购买贵金属是为了庆祝出生、宗教节日，最重要的是婚礼。黄金可作为装饰、礼物或家庭储蓄的补充。由于国内产量极少，大部分需求依靠进口满足，这严重加重了贸易账单和货币的负担。
Indians buy the precious metal to celebrate births, religious festivals and, above all, weddings. It can serve as adornment, gift or contribution to family savings. Since there’s little domestic production, most demand is met through imports, which weighs heavily on the trade bill and the currency.
提高税收的举措也促使更多印度家庭转向柜台下的现金交易，金条和珠宝在没有当局可追踪发票的情况下易手。
The move to raise taxes has also prompted more Indian households to turn to under-the-counter cash sales, where bullion and jewelry change hands without invoices that can be traced by authorities.
报告称，该国的黄金需求——涵盖珠宝和投资——较上一季度有所增加，但大多数指标显示较去年同期有所下降。消费通常在最后一个季度增加，像排灯节这样的主要节日将鼓励购买。
The country’s gold demand — spanning jewelry and investments — increased from the previous quarter, but most metrics point to a decline from a year earlier. Consumption typically increases in the last quarter, with major festivals like Diwali set to encourage purchases, the report said.
不过，有迹象表明预期中的增长可能不会出现。该国最大的贵金属炼厂表示，珠宝商目前正在观望，因为他们押注近期的价格跌势还将延续。黄金在10月下跌了6.8%，并跌破了每盎司4000美元的关键价位，此后一直在该水平以下交易。
However, there are signs the expected increase may not come through. Jewelers are holding back for now, according to the country’s biggest precious metal refiner, as they bet that a recent drop in prices has further to run. Gold slumped 6.8% in October and broke under the key price of $4,000 an ounce, and has traded below that level since.