Moneycontrol PRO

India's September gold imports surge nearly 8 times as prices drop

India's gold imports in September soared 658 percent from last year's lower base as a correction in local prices to the lowest level in nearly six months prompted jewellers to step up purchases for the upcoming festive season, a government source said.

October 04, 2021 / 01:39 PM IST

India's gold imports in September soared 658 percent from last year's lower base as a correction in local prices to the lowest level in nearly six months prompted jewellers to step up purchases for the upcoming festive season, a government source said.

India imported 91 tonnes of gold in September, compared to 12 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, September imports surged to US$5.1 billion from US$601 million a year ago, he said.
Reuters
first published: Oct 4, 2021 01:33 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark