Gold & Silver

Gold imports rise 12.6 per cent in June

Reuters NEW DELHI | Updated on July 02, 2019 Published on July 02, 2019

India's gold imports rose 12.6 per cent in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs, a government source said on Tuesday.

However, imports were 44 per cent lower in June from May's $4.78 billion, the source said, who was not allowed to speak to the media.

In India, local prices jumped to a record high in June, moderating demand from retail consumers.

The drop in gold imports by India, the world's second-biggest consumer of the precious metal, could weigh on global prices that are struggling to hold recent gains.

Published on July 02, 2019
This article is closed for comments.
Please Email the Editor