Published on 5/08/2019 4:03:42 PM | Source: Reuters

India's July gold imports plunge 55% as prices rally: government source

Posted in Top Stories| #Gold #Import Exports #Commodity #Government

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NEW DELHI  - India's gold imports in July plunged 55% from a year ago as a rally in local prices to a record high and a hike in import duty dampened demand in the world's second biggest consumer of the precious metal, a government source said on Monday.

The south Asian country imported 39.66 tonnes of gold in July, down from 88.16 tonnes a year ago, the source said, who was not allowed to speak to the media.


(Reporting by Aftab Ahmed; Writing by Rajendra Jadhav; Editing by Rashmi Aich)