Gold imports may fall 25% in October -December

Weak festival demand takes shine off; lower purchases by India could drag global prices

India’s gold imports in the October-December quarter could drop by a fourth from a year ago due to weak demand during key festivals and as investors seek better returns from riskier assets like equities, industry officials and analysts said.

Lower gold purchases by India, the world’s second-biggest consumer after China, could drag global prices that have already fallen nearly six per cent from this year's peak.

“October imports were lower than last year and even in November and December they are likely to be lower than last year,” Sudheesh Nambiath, a senior analyst with GFMS, a division of Thomson Reuters, said on