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India's gold imports fall 39% in April on weak demand, says GFMS

Lower gold imports could also help the South Asian country reduce its trade deficit

Reuters  |  Mumbai 

India's gold imports fell for a fourth straight month in April from a year ago to 57 tonnes on subdued demand after local prices jumped to the highest level in nearly 21 months, provisional data from precious metals consultancy GFMS and bank dealers showed. The drop in purchases by India, though, could weigh on global prices, which are still up nearly 6 percent from a mid-December trough, despite dropping back from a 17-month high hit at the end of January. Lower gold imports could also help the South Asian country reduce its trade deficit. The price rise curtailed retail ...

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First Published: Tue, May 08 2018. 21:19 IST
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