Gold import, which has a bearing on the nation’s present account deficit (CAD), zoomed to $6.3 billion for the month of April on account of a surge in home demand, in keeping with the Commerce Ministry information.
Silver imports in the course of the month, nonetheless, dipped by 88.53 per cent to about $11.9 million.
Gold import stood at $2.83 million (Rs 21.61 crore) in April 2020, the info confirmed.
The rise in gold imports pushed the nation’s commerce deficit to $15.1 billion in April 2021 as in opposition to $6.76 billion in the identical month a yr in the past. According to business specialists, growing home demand is pushing up imports of gold, nonetheless, the second wave could influence the demand within the coming months.
Akshaya Tritiya, a extremely auspicious day to buy gold, additionally noticed muted gross sales as in comparison with pre-Covid numbers.
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