3rd Asia Pacific Precious Metals Conference on 09-11 June 2019 at PARKROYAL on Beach Road, Singapore..., Mark your dates for 16th India International Gold Convention on 01-04 Aug 2019 at Amritsar, Punjab...
 You are here : Home > News
 
 
India's Gold imports spike 54% to $3

India's Gold imports spike 54% to $3.97 billion in April

May 16, 2019

 

India's gold imports spiked by 54% to $3.97 billion in April from $2.58 billion in the same month last year, according to latest data release from the Ministry of Commerce.

 

The rise in imports by the world's second-biggest consumer of the precious metal was driven by strong demand during wedding season along with fall in prices which prompted purchases.

 

After recording negative growth for three consecutive months - October, November and December 2018 - gold imports grew 38.16% to $2.31 billion in January 2019. It again contracted by 10.8% to $2.58 billion in February.

 

In March 2019, gold imports grew by 31.22 % to $3.27 billion.India is one of the largest gold importers in the world, and the imports mainly take care of demand from the jewellery industry.

 

Source: https://www.scrapregister.com/n