Loading ...MUMBAI, Oct 4 (Reuters) – India’s gold imports in September soared 658% from last year’s lower base as a correction in local prices to the lowest level in nearly six months prompted jewellers to step up purchases for the upcoming festive season, a government source said.
Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices , which have fallen nearly 15% from an all-time high of $2,072 in August 2020.
The surge in imports could increase India’s trade deficit and pressure the rupee