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Gold Imports of india Fall 99% in may from a Year Ago to 1.4 Tonnes

Gold imports of India in May 2020 plunged 99% from a year earlier as international air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of COVID-19, a government source said today.

The world’s second-biggest consumer of the precious metal imported around 1.4 tonnes of gold in May, down from 133.6 tonnes a year ago, said the source, who declined to be identified because they are not authorised to speak to the media. In value terms, May imports dropped to $76.31 million from to $4.78 billion a year ago, he added.

Gold Imports of india Fall 99% in may from a Year Ago to 1.4 Tonnes via @MasterMindUpdate
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