Surge in gold imports pushes India's Nov trade deficit to record levels

NEW DELHI (Reuters) -India's merchandise trade deficit in November widened to a record level, led by a surge in gold imports, while exports fell due to weaker global demand. The merchandise trade deficit in November stood at $37.84 billion, data released by the commerce ministry showed on Monday, much higher than economists' forecast of $23.9 billion, according to a Reuters poll. The bigger trade gap will widen India's current account deficit and add to the pressure on the rupee, which closed at a record low on Monday.