India's March gold imports surge 471% to a record 160 tonnes worth $8.4 billion | Editorji
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India's greed for gold surges in March, imports up 471% to a record 160 tonnes

Apr 02, 2021 06:36 IST | By Editorji News Desk

India imported a record 160 tonnes of gold in March as per a report on Reuters. This marks a 471% surge on a year-on-year basis for the yellow metal's import data. 

In value terms Reuters reports , March imports surged to $8.4 billion from $1.23 billion a year ago, as per govt sources. 

For the Jan-March quarter told gold import stood at 321 tonnes up 191% from 124 tonnes a year ago

Experts cite dropping prices as big boost to demand, gold is down 17% from an all-time high of $2,072 in August 2020. India has also cut import duty in March for the yellow metal.

 

Economy