Money News

Gold imports hit 125 tonnes in March - TV

A woman looks at a gold bangle inside a jewellery showroom at a market in Mumbai January 15, 2015. REUTERS/Shailesh Andrade/Files

MUMBAI (Reuters) - India’s gold imports more than doubled to 125 tonnes in March from 60 tonnes in the same period a year ago, three TV channels reported on Friday.

Gold imports in the fiscal year 2014/15 ended March 31 jumped to 900 tonnes, up 36 percent from a year ago, the TV reports showed.

Gold imports by the world’s top consumer surged in March due to a key Hindu festival Akshay Tritiya, when it is considered auspicious to buy gold, and the ongoing wedding season when demand for jewellery typically spikes, Rahul Gupta, director, P.P. Jewellers told Reuters.

Reporting by Meenakshi Sharma; Editing by Biju Dwarakanath