Global Economy

India's June gold imports treble y/y on price correction: Reuters quoting govt source

India’s gold imports in June nearly trebled from year-ago levels on correction in prices and as jewellers replenished inventories after robust sales during a key festival, a government source said on Tuesday.

The country had imported 49 tonnes of gold in June, compared with 17 tonnes a year earlier, the source said on condition of anonymity as he is not authorised to speak to media.

In value terms, June imports surged to $2.61 billion from $969 million a year ago, he said, adding that India’s gold imports still dropped to 335 tonnes in the first half of 2022 from 493 tonnes last year.


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