Coronavirus fallout: India's gold imports tumble 86% to 11 tonnes in June
The world's second-biggest consumer of the precious metal imported around 11 tonnes of gold in June, down from 77.73 tonnes a year ago, the source said on Thursday
- Jul 2, 2020,
- Updated Jul 2, 2020 1:14 PM IST
India's gold imports plunged 86% year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said.
The world's second-biggest consumer of the precious metal imported around 11 tonnes of gold in June, down from 77.73 tonnes a year ago, the source said on Thursday. The source asked to remain anonymous since he is not authorised to speak to the media.
In value terms, June imports dropped to $608.76 million from to $2.7 billion a year ago, he added.
Also read: BT Insight: Gold prices at record high of Rs 48,980; should you buy, hold or exit?
India's gold imports plunged 86% year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said.
The world's second-biggest consumer of the precious metal imported around 11 tonnes of gold in June, down from 77.73 tonnes a year ago, the source said on Thursday. The source asked to remain anonymous since he is not authorised to speak to the media.
In value terms, June imports dropped to $608.76 million from to $2.7 billion a year ago, he added.
Also read: BT Insight: Gold prices at record high of Rs 48,980; should you buy, hold or exit?