India’s gold appetite cools? Govt data shows imports plunge 57.7% as exports surge 26.12 %
India's gold imports plummeted 57.7% in August, falling to $2.3 billion from $4.16 billion in July. This decline coincided with a 26.1% rise in merchandise gold exports to $43.81 billion, contributing to a narrowed trade deficit of $26.9 billion. The trend reflects ongoing efforts to reduce gold purchases amid high prices and could stabilize the rupee.