India's Gold Import In April Fell 99.9%

Amid prohibition on air travel and operation of jewellery retailing shops, gold imports in India plunged 99.9 percent in April when compared to the same month in the previous year.

The world's second-biggest consumer of the precious metal (after China) imported around 50 kilograms of gold in April, down from 110.18 tonnes a year ago, a Reuters report said citing a government source. The import quantity is the lowest in nearly three decades.

In value terms, April imports dropped to $2.84 million from to $3.97 billion a year ago, the report said.