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India's February Gold Imports Drop 41% As Prices Hit Record High - Government Source

The world's second-biggest consumer of gold imported 46 tonnes in February, compared with 77.64 tonnes a year earlier.

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India's gold imports plunged 41% in February from a year earlier as a rally in local prices to a record high squeezed retail demand, a government source said on Tuesday.

The world's second-biggest consumer of gold imported 46 tonnes in February, compared with 77.64 tonnes a year earlier, the source said on condition of anonymity, as he was not authorised to speak to media.

In value terms, February imports totalled $2.36 billion, down from $2.58 billion a year earlier, he said.

(Reuters)


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