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Gold Imports by India Edge Higher on Easing Virus Curbs

  • Imports in April-June halve from the previous quarter
  • Stores are operating with restricted timings, weekend closures

Gold imports by the world’s second-biggest consumer edged higher in June as the pandemic’s lethal second wave ebbed in India and buyers trickled back to stores drawn by a drop in prices.

Overseas shipments increased to 15 tons last month from 13.2 tons a year ago, according to a person familiar with the data, who asked not to be identified as the information isn’t public. That would take the April-June quarter imports to about 97 tons, down by half from the previous quarter. Finance Ministry spokesman Rajesh Malhotra didn’t immediately respond to calls to his mobile phone.