Indian Gold Imports Said to Drop for Fourth Month on Slow Demand

  • Shipments halve in May to 31 tons from same month last year
  • Prices in Mumbai rise 16% even as weak demand season begins

Gold imports by India, which vies with China as the world’s top consumer, tumbled for a fourth straight month as a 16 percent increase in domestic prices since the start of the year kept buyers away, according to a person familiar with provisional Finance Ministry data.

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