India's gold imports dip after brief rebound as prices curb demand

Gold imports by India slumped in September after a short-lived rebound as high prices prompted buyers to defer purchases.

Inbound shipments fell 38 per cent in September from a year earlier to 8.4 tons, according to a person familiar with the data. Imports were down from 35.5 tons in August. Imports had risen in July and August as jewelers readied stocks ahead of festivals. But demand has cooled as buyers hold off on purchases in a bet that prices will further decline.