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India's gold imports fall by 86% in June due to high prices

Shortpedia

Content Team
Image Credit: shortpedia

The gold imports of India fell by 86 percent on a year-on-year basis in June due to record high prices and as international air travel was banned and many jewellery shops were closed due to the outbreak of the novel coronavirus. India imported around 11 tonnes of gold priced at $608.76 million in June, down from 77.73 tonnes a year ago. It is to be noted that India is the world's second-biggest consumer of gold.