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August gold imports doubles YoY to hit 8-month maximum: Govt source

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MUMBAI: India’s gold imports around August nearly doubled coming from a year ago to the greatest level in eight weeks on an improvement in purchase demand and as some jewellers restocked after New Delhi eased lockdowns, a federal government source said on Sunday.

The world’s second-biggest customer of the precious metal imported all around 60 tonnes of gold in August, up through 32.1 tonnes in 2009, the source said. Typically the source asked to continue to be anonymous since he is not really authorised to speak to the media.

In worth terms, August imports increased to $3.7 million from $1.37 million a year ago, he added.

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