Why gold imports into India almost tripled last month
Correction in gold rates and a robust demand during the marriage season were attributed to the spike in gold imports into India
Gold imports into India tripled in June from year-earlier levels, a report said, citing sources. The country had imported 49 tonnes of gold in June, compared with 17 tonnes a year earlier, Reuters reported, citing sources. In value terms, June imports surged to $2.61 billion from $969 million a year ago but in overall gold imports into India dropped to 335 tonnes in the first half of 2022 from 493 tonnes last year, the report said.