India's gold imports plunge to three-decade low
The world's second biggest consumer of the precious metal imported around 50 kilograms of gold in April, down from 110.18 tonnes a year ago
![Indias gold imports plunge to three-decade low Indias gold imports plunge to three-decade low](https://s3.ap-southeast-1.amazonaws.com/images.deccanchronicle.com/dc-Cover-au7mok02br0m258dgrfuqgmvt0-20200505095857.Medi.jpeg)
India's April gold imports plunge 99.9% to three-decade low. (PTI Photo)
NEW DELHI: India’s gold imports plunged 99.9% year-on-year in April to their lowest in nearly three decades as air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said.
The world’s second biggest consumer of the precious metal imported around 50 kilograms of gold in April, down from 110.18 tonnes a year ago, the source said on Monday, who is not authorised to speak to the media.
In value terms, April imports dropped to $2.84 million from to $3.97 billion a year ago, he added.
( Source : reuters )
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