Coronavirus Outbreak: March gold imports hit six-and-half-year low on record price as lockdown squeezes retail demand: Report

The world’s second biggest consumer of gold imported 25 tonnes of gold in March, down from 93.24 tonnes a year ago, the source said.

|Apr 06, 2020, 12:53:03 IST

Mumbai: India’s gold imports plunged more than 73 percent year-on-year in March to their lowest in 6-1/2 years as record domestic prices and a lockdown to curb the spread of coronavirus squeezed retail demand, a government source said on Monday.The world’s second biggest consumer of the precious metal imported 25 tonnes of gold in March, down from 93.24 tonnes a year ago, the source said, who is not authorised to speak to the media.In value terms, March imports dropped nearly 63 percent to $1.22 billion, he added.

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Coronavirus Outbreak: March gold imports hit six-and-half-year low on record price as lockdown squeezes retail demand: Report

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South Korea economy grows faster than expected in Q2 as chip exports power recovery

India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

UK inflation cools further to 2.6% in June as transport and food prices ease