Gold imports drop 77% to $1.11 bn in August
According to government data, India's gold imports fell by 77.5% year-on-year to $1.11 billion in August amid declining prices of the metal in both global and domestic markets. The yellow metal's imports have been declining since February this year, thereby contributing to a reduction in trade deficit. Meanwhile, silver imports also dipped by 64% to $130.32 million last month.