directIndia’s gold imports have fallen more than 99 percent over the past month, to record the lowest level in at least a decade.
The agency quoted “Bloomberg”, sources familiar with the data of the Ministry of Finance in India, on Monday, that the foreign purchases of gold in India fell by about 99.5 percent during the past month to reach 60 kilograms.
According to the report, this is the lowest reading since 2020 when data was started by “Midtals Fox.”
India’s gold imports reached 13 tons in March.
Air transport restrictions and jewelry store closures due to the Corona virus have caused gold imports to fall in the world’s second largest importer after China.
The data of the World Gold Council revealed that the global demand for gold increased by about 1 percent during the first quarter, to reach 1083.8 tons.