India imports 20 tonnes of gold in April

India imported 20 tonnes of gold in April after recording zero imports in the previous two months, though prices were ruling high in the range of 15,000 per 10 grams in domestic markets.      

"As per the provisional data, gold imports stand at 20 tonnes in April, 2009," Bombay Bullion Association President Suresh Hundia told PTI from Mumbai.      

However, imports of 20 tonnes in April are less compared with 24 tonnes in the same month a year ago.      

Imports have been sluggish this year so far. In January, only 1.2 tonnes were shipped and in the next two months there was no import. It, however, picked up in April.      

Expecting more than usual demand owing to Akshaya Tritiya in April, Hundia had earlier projected imports to be in the range of 25-30 tonnes.      

"Firm prices of gold and rupee depreciation against the US dollar have not only hit the physical demand but has also affected imports in the last few months," Religare Commodities Business Head Jayant Manglik said.     

Gold prices were ruling high in the range of Rs 15,000 per 10 grams in April. They had peaked to Rs 15,800 per 10 gm in February.

Gold sales on the Akshaya Tritiya day fell by 8 per cent to 45 tonnes on account of high prices, the World Gold Council data showed.     

Traders of the opinion that India, the world's biggest consumer of gold, may import less quantity than last year's 396 tonnes in 2009.