Gold imports fell 46% in Oct, 4th straight month of decline, on weak demand

This year sales on Dhanteras, the most auspicious day in the country to buy the metal, slumped even as jewelers lined up offers to draw in buyers.

Gold imports by India fell for a fourth month in October even as the biggest buying day failed to lift sluggish demand in the world’s second-largest market.

Imports fell 46% from a year earlier to 20.8 tons in October, according to a person familiar with the data, who declined to be named as the information isn’t public. Still, that’s higher than September’s 13.5 tons, the lowest monthly inflow in at least three years, data compiled by Bloomberg shows.

Total inbound shipments declined 14.5% from year earlier to 541.4 tons during the first 10 months of 2019, the person said. Finance Ministry spokesman