Gold imports have been recording negative growth since December last year. India’s gold imports contracted for the fifth consecutive month in a row, falling by about 100 per cent to USD 2.83 million in April due to the lockdowns imposed globally on account of coronavrius outbreak.
gold imports
Gold Imports Slip 6.77% April-December 2019 Current Financial Year
Gold imports, which have a bearing on the current account deficit, fell 6.77 percent to $23 billion during the current financial year 2019, According data from the commerce ministry.
India Gold Imports Are Said to Have Slumped for Fifth Month
Gold Silver Reports (GSR) – India Gold Imports Are Said to Have Slumped for Fifth Month — India’s gold imports shrank 39% in May, according to a person familiar with the information, the fifth month of decline as the world’s second-largest consumer enters a seasonally weak period for demand. Imports contracted to 77.6 tonnes from 126.2 tonnes a year earlier, the person said, asking not to be identified as the figures aren’t public. The purchases exceeded the 52.7 tonnes in April and are the highest so far this year.