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India's August gold imports doubles to hit eight-month peak: Report

Gold imports in August nearly doubled from a year ago to the highest level in eight months on an improvement in investment demand and as some jewellers restocked after New Delhi eased lockdowns

gold, jewellery

Reuters MUMBAI

MUMBAI (Reuters) - India's gold imports in August nearly doubled from a year ago to the highest level in eight months on an improvement in investment demand and as some jewellers restocked after New Delhi eased lockdowns, a government source said on Wednesday.

The world's second-biggest consumer of the precious metal imported around 60 tonnes of gold in August, up from 32.1 tonnes a year ago, the source said. The source asked to remain anonymous since he is not authorised to speak to the media.

In value terms, August imports surged to $3.7 billion from $1.37 billion a year ago, he added.

 

 

(Reporting by Aftab Ahmed and Rajendra Jadhav; Editing by Andrew Heavens)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : Gold Import

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First Published: Sep 02 2020 | 1:17 PM IST

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