SMM: November is an important holiday season in India, but the demand for gold is still disappointing.
According to the data, India's gold imports plunged 41% to 33.1 tons in November from a year earlier. But it is still an improvement from 29 tons in October.
The holiday season at the end of each year is traditionally the golden season in India, but the amount of gold jewelry bought this year is only about 70% of that of last year.
Demand for gold in India has fallen sharply as a result of the sharp rise in international gold prices this year and the fact that India's economy has been hit hard by the epidemic.
In the first 11 months of this year, the country's gold imports plunged 63 per cent from a year earlier to 220.2 tonnes.
