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  Business   In Other News  02 Sep 2020  Gold imports in August doubles to hit 8-month peak as demand improves

Gold imports in August doubles to hit 8-month peak as demand improves

REUTERS
Published : Sep 2, 2020, 2:06 pm IST
Updated : Sep 2, 2020, 2:06 pm IST

In value terms, August imports surged to $3.7 billion from $1.37 billion a year ago

India's August gold imports doubles to hit 8-month peak. (Representative Image)
 India's August gold imports doubles to hit 8-month peak. (Representative Image)

MUMBAI: India’s gold imports in August nearly doubled from a year ago to the highest level in eight months on an improvement in investment demand and as some jewellers restocked after New Delhi eased lockdowns, a government source said on Wednesday.

The world’s second-biggest consumer of the precious metal imported around 60 tonnes of gold in August, up from 32.1 tonnes a year ago, the source said.

 

In value terms, August imports surged to $3.7 billion from $1.37 billion a year ago, he added.

Tags: india, gold imports, gold jewellery, lockdowns
Location: India, Maharashtra, Mumbai (Bombay)