Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London, Britain July 21, 2015. Gold was on the brink of five year lows on Tuesday, with more losses expected in the coming months following Monday's "bear raid" when sellers dumped an estimated 33 tonnes in just two minutes. REUTERS/Neil Hall
MUMBAI: Gold imports by India in July tumbled to the lowest monthly inflow in more than three years as demand paused following record high prices in the domestic market.
Overseas purchases fell 69% to 20.4 tons in July from 65.6 tons a year earlier, according to a person familiar with the data, who asked not to be identified as the information isn’t public. That would be the smallest monthly quantity shipped since at least March 2016, when imports fell to 17.7 tons as jewelers went on a nationwide strike to protest against an excise duty on jewelry, data compiled by Bloomberg shows.
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