Gold imports in India declined 27 % in October from a year earlier reversing a 2 month surge as volatile prices and fall of the local currency hit demand.

Suresh Hundia, president of the Bombay Bullion Association, said:

Imports in the world’s largest gold consumer fell to 44 tonnes in October from 60 tonnes in the same month a year ago. Prices started falling only around mid-October, so demand was not very strong,

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