Gold imports rose 91 tonnes in September

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MUMBAI: India's gold imports rose 5 per cent year-on-year to 21 per cent in September. Gold imports stood at 12 tonnes in September last year.

Gold prices fell in the domestic market, hitting a three-month low, leading to an increase in imports as jewelers bought stocks for the upcoming festive season.

Gold imports in September stood at 8.10 billion, up from. 20.10 billion in the same month last year.

It may be mentioned here that as a result of the first wave of Corona in 2020, the demand for gold for weddings and festive seasons was weak. On the other hand, high demand for gold globally as a safe haven led to higher prices, which led to a rise in domestic gold prices.

Domestic gold futures fell to Rs 4.5 per 10 grams last week, the lowest in almost six months. Traders said retail demand was rising as gold prices fell.

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