News > Costlier Gold Reduces April Imports By 95%

Costlier Gold Reduces April Imports By 95%

Times of India | 03/05/2022 09:19 AM | Click to read full article

As prices of gold remained high because of the Russia-Ukraine war and the rising global inflation, the import of the yellow metal went down drastically in April this year.

According to the data of Ahmedabad Air Cargo Complex (AACC), gold imports stood at 0.143MT in April, down 95% as compared to 3.54MT in the corresponding month of 2021. Costlier gold, muted sentiment, and weakened spending power of people caused imports to go down.