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India's June gold imports rise 12.6% YoY as global prices jump: Reports

In India, local prices jumped to a record high in June, moderating demand from retail consumers

Reuters  |  New Delhi 

India's gold imports rose 12.6% in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs, a government source said on Tuesday. However, imports were 44% lower in June from May's $4.78 billion, the source said, who was not allowed to speak to the media. In India, local prices jumped to a record high in June, moderating demand from retail consumers. The drop in gold imports by India, the world's second-biggest consumer of the precious metal, could weigh on global prices that are struggling to hold recent gains.

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First Published: Tue, July 02 2019. 15:36 IST
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