Gold imports lose shine, fall $29.5 billion in Apr-Feb

The country’s gold imports dipped about in value terms during April-February 2018-19, which is expected to keep a lid on the current account deficit, according to commerce ministry data

5.5% - Dip in gold imports to $29.5 billion in value terms

$31.2 bn - Total imports in the corresponding period of 2017-18

38.16% - Surge in gold imports in January to $2.31 billion

10.8% - Drop in imports at $2.58 billion in February

6.3% - Fall in gems and jewellery exports to $28.5 billion during 11 months of current fiscal

22.43% - Increase in gold imports in volume terms to 955.16 tonne in 2017-18

Trade experts said softening prices of the yellow metal in the world markets could be the reason for the contraction in imports