India’s inbound gold purchases drop 51% in May
By GCRU Gold News on Thursday, June 9 2016, 00:10 - Permalink
According to sources familiar with provisional Finance Ministry data, the Indian gold imports have tumbled for fourth straight month in May this year. The gold imports by the country during the month are believed to have dropped sharply by 51% year-on-year to 31 metric tonnes in May. However, when matched with the April ’16 imports of 22 tonnes, the monthly imports in May have climbed higher by over 40%. It must be noted that the official Ministry data is yet to be released.