India gold bar imports down 62% in July to 27 mt

Indian gold bar imports totaled 27 mt in July, down 62% from 72 mt a year earlier, preliminary customs data showed Tuesday.

Imports were up marginally on the month, 1.7% higher than 26 mt reported in June.

Physical demand in India, the world's largest consumer after China, has struggled this year amid high prices and a running dispute with the government over new taxes and proposed reforms to the industry.

India gold bar imports down 62% in July to 27 mt