India's October gold imports drop 33 pc on weak festive demand: source

Mumbai: India’s gold imports fell for a fourth straight month in October from a year ago as near record-high prices dampened buying during key festivals in the world’s second-biggest consumer of the metal, a government source said on Monday.

New Delhi imported 38 tonnes of gold in October, down 33 per cent from 57 tonnes a year ago, the source said on condition of anonymity as he is not authorised to speak to media.

In value terms, the October imports were at USD 1.84 billion, slightly higher than last year’s USD 1.76 billion, he added.