India’s January Gold Imports Rise 62%: Report

New Delhi: India’s gold imports in January surged 62 per cent compared with the same period last year, news agency NewsRise Financial reported on Tuesday citing a government official, as the country’s appetite for the precious metal continues unabated despite duties.

India, the world’s second biggest consumer of gold, shipped in 93.3 tonnes of gold last month while overseas purchases of the metal surged 25 per cent to 904.2 tonnes, in the ten months to January, it said.

New Delhi’s gold imports are seen hitting a more than two-year low in February, as rising prices keep buyers away, industry sources told Reuters last week.

[“source-ndtv”]