India Gold Imports Leap to Highest Since April as Controls Ease
- India’s imports rise 71% year-on-year to 43.6 tons in July
- Softening gold prices in domestic market help boost sales
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Gold imports by India jumped to the highest in three months in July as economic activity picked up after a deadly coronavirus wave abated, and prices in the second-biggest consumer softened.
Inbound shipments surged 71% from a year earlier to 43.6 tons last month, according to a person familiar with the data, who asked not to be identified as the information isn’t public. That’s the biggest inflow since 70.3 tons in April. Finance Ministry spokesman Rajesh Malhotra didn’t immediately respond to calls to his mobile phone.