Indian banks have halted gold and silver import orders from overseas suppliers, with tons of the metals stuck at customs as a formal government order has not been issued authorising bullion imports, trade sources said. Without fresh imports, India could face supply shortages, as the world’s second-largest gold consumer and biggest silver buyer relies on overseas purchases to meet nearly all its demand. Weak Indian demand could weigh on global gold and silver prices, while narrowing the country’s trade deficit and supporting the rupee, which has been among the worst-performing Asian currencies so far this year. (full story)