Gold Imports by India Are Said to Have Jumped Ahead of Festival
- Overseas purchases more than doubled in April on year
- Demand is recovering in India on weddings, lower prices
Photographer: Dhiraj Singh/Bloomberg
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Gold imports by India surged in April amid falling prices and higher demand ahead of the second-biggest gold-buying day in the Hindu calendar.
Inbound shipments grew to 121 tons last month from 52.8 tons a year earlier, according to a person familiar with the data, who asked not to be identified as the information isn’t public. Shipments were higher than the 73 tons in March as well. Finance Ministry spokesman D.S. Malik wasn’t immediately available for comment.