India's May gold imports jump 49% on festive demand - govt source
NEW DELHI, June 4 (Reuters) - India's gold imports in May
jumped 49% from a year earlier to 116 tonnes as a correction in
local prices during a key festival boosted retail demand, a
government source said on Tuesday.
Higher gold imports by India, the world's second-biggest
consumer of the precious metal, could support global prices that are trading near their highest level in three
The country's gold imports in value terms rose to $4.78
billion in May from $3.48 billion a year ago, a government
official said, who was not allowed to speak to the media.
India had imported 78 tonnes of gold in May 2018.
(Reporting by Aftab Ahmed; Writing by Rajendra Jadhav; Editing
by Subhranshu Sahu)
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