25.5 tonnes

gold imports by India rebound in July after slump in first half of year

Demand for gold in India rebounded in July, with imports jumping by a quarter from a year earlier, as lockdowns to combat the coronavirus in the second-largest consumer of the metal were slowly eased.

Overseas purchases rose to 25.5 tonnes in July from 20.4 tonnes a year earlier and were almost double the amount shipped in the previous month, according to a person familiar with the data, who asked not to be identified as the information isn’t public. Shipments in July showed the first year-on-year increase in 2020. Still, that may not be enough to compensate for the 79 per cent fall in imports in the first half of 2020.