India's January Gold Imports Surge 72% y/y To 62 Tonnes

(February 11th 2021 - Reuters)

MUMBAI (Reuters) - India’s gold imports in January surged 72% from a year earlier, a government source said on Wednesday, as a correction in prices from a record high drew retail buyers and jewellers.

The world’s second-biggest consumer of the gold imported around 62 tonnes of it in January, up from 36.5 tonnes a year ago, the source said.

The source asked to remain anonymous since he is not authorised to speak to the media.

In value terms, January imports surged to $4.04 billion from $1.58 billion a year ago, he said.