India's August gold imports nearly double on price correction: Report
Gold imports in August nearly doubled from a year ago to their highest level in five months on an improvement in demand and as a correction in prices prompted jewellers to ramp up purchases
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MUMBAI (Reuters) - India's gold imports in August nearly doubled from a year ago to their highest level in five months on an improvement in demand and as a correction in prices prompted jewellers to ramp up purchases for the festive season, a government source said.
India imported 121 tonnes of gold in August, compared to 63 tonnes a year earlier, the source said on Monday on condition of anonymity as he is not authorised to speak to media.
In value terms, August imports surged to $6.7 billion from $3.7 billion a year ago, he said.
(Reporting by Rajendra Jadhav; Editing by Himani Sarkar)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Sep 06 2021 | 12:05 PM IST