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India's gold imports in May fall 99% YoY to 1.4 tonnes
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India's gold imports in May fall 99% YoY to 1.4 tonnes
Jun 2, 2020 3:43 AM

India's gold imports in May plunged 99 percent from a year earlier as international air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, a government source told Reuters on Tuesday.

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The world's second-biggest consumer of the precious metal imported around 1.4 tonnes of gold in May, down from 133.6 tonnes a year ago, said the source, who declined to be identified.

In value terms, May imports dropped to $76.31 million from to $4.78 billion a year ago, he added.

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