Indian gold bar imports fell 46% in June to 26 mt, from 50.1 mt in May, customs data showed Tuesday.

Imports were down 40% year on year, from 44.6 mt in June 2015, to their lowest level since March.

Previously unheard of discounts as steep as $100/oz for gold paid in cash have been reported in the past several days.

Surprisingly given a huge drop-off this year, imports of gold dore unrefined gold ore jumped over fourfold in June to 44.6 mt, the highest in almost a year.