India's June Gold Imports Rise 12.6% Year-On-Year Amid Global Price Rally

India's gold imports rose 12.6% in June from a year earlier to $2.69 billion amid a jump in global prices to six-year highs, a government source said on Tuesday.

However, imports were 44% lower in June from May's $4.78 billion, the source said, who was not allowed to speak to the media.

In India, local prices jumped to a record high in June, moderating demand from retail consumers.

The drop in gold imports by India, the world's second-biggest consumer of the precious metal, could weigh on global prices that are struggling to hold recent gains.

(Reuters)