Gold imports by India, which vies with China as the world’s top consumer, tumbled for a fourth straight month as a 16% increase in domestic prices since the start of the year kept buyers away, according to a person familiar with provisional Finance Ministry data.
Inbound purchases dropped 51% to 31 metric tons in May from a year earlier, the person said, asking not to be identified as the data aren’t public. The country imported 22 t in April.
