Indian Gold Demand Surged In April And May
After a dip in demand in 2018, it appears Indians are buying gold again.
Anecdotal data seemed to indicate strong demand for the yellow metal in India during the Akshaya Tritiya holiday. Retailers reported sales were up by as much as 25%. As it turns out, demand was indeed strong. Gold imports into India were up 36% year-over-year in May, according to sources cited by Bloomberg.
India imported 105.8 tons of gold in May. That compares with just 77.6 tons a year earlier. Combined shipments