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World’s Second-Biggest Gold Buyer Cuts Imports for Fourth Month

  • Imports are said to drop 46% on year in October to 20.8 Tons
  • India’s gold demand in 2019 is seen the lowest in three years
An employee hands a 50-gram gold bar to a customer inside a jewelry store in Mumbai.

An employee hands a 50-gram gold bar to a customer inside a jewelry store in Mumbai.

Photographer: Dhiraj Singh/Bloomberg

Gold imports by India fell for a fourth month in October even as the biggest buying day failed to lift sluggish demand in the world’s second-largest market.

Imports fell 46% from a year earlier to 20.8 tons in October, according to a person familiar with the data, who declined to be named as the information isn’t public. Still, that’s higher than September’s 13.5 tons, the lowest monthly inflow in at least three years, data compiled by Bloomberg shows.