India’s gold imports plunged 86% year-on-year in June due to record high prices, international air travel being banned and many jewellery shops remaining shut amid a nationwide lockdown to curb the spread of COVID-19, a government source said.
The world’s second-biggest consumer of the precious metal imported about 11 tonnes of gold in June, a steep fall from the 77.7 tonnes a year ago, the source, who asked to remain anonymous, said.
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Unknown title July 02, 2020 23:04 IST Updated: July 02, 2020 23:17 IST High price to keep a lid on July imports, say dealers Share Article 0 PRINT A A A High price to keep a lid on July imports, say dealers <span>India’s gold imports plunged 86% year-on-year in June due to record high prices, international air travel being banned and many jewellery shops remaining shut amid a nationwide lockdown to curb the spread of COVID-19, a government source said. The world’s second-biggest consumer of the precious metal imported about 11 tonnes of gold in June, a steep fall from the 77.7 tonnes a year ago, the source, who asked to remain anonymous, said. In value terms, June imports dropped to $608.8 million from $2.7 billion a year ago, he added. Gold imports in the quarter ended June plunged 96% from a year earlier, to 13 tonnes, the Summary
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