India's gold imports top 100 tons for second straight month

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By Vrishti Beniwal
Bloomberg News
Friday, May 15, 2015

Gold imports by India, the world's second-largest consumer, exceeded 100 metric tons for a second month in April as easing of state curbs boosted demand for everything from necklaces to bangles and rings.

Shipments totaled 111 tons last month and are about 60 tons so far in May, Revenue Secretary Shaktikanta Das said in an interview in New Delhi today. Imports in March more than doubled to 125 tons from a year earlier because of seasonal demand and a drop in prices, according to the Finance Ministry.

India is set to become the world's top consumer this year as economic growth accelerates and China's booming equity markets reduce the appeal of bullion, according to P.R. Somasundaram, World Gold Council's managing director in India. ...

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