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India's January Gold Imports Plunge 48% To Four-Month Low

January imports totalled $1.58 billion, down from last year's $2.31 billion.

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India's gold imports in January plunged 48% from a year earlier to their lowest level in 4 months as a rally in local prices near record highs prompted buyers to curtail purchases, a government source said on Tuesday.

The world's second-biggest buyer of gold imported 36.26 tonnes in January, compared with 69.51 tonnes a year earlier, the source said on condition of anonymity, as he was not authorised to speak to media.

In value terms, January imports totalled $1.58 billion, down from last year's $2.31 billion, he said.


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