Gold imports dip 94 pc in April-June to USD 688 million

Gold imports, which have a bearing on the current account deficit (CAD), plunged 94 per cent to USD 688 million (about Rs 5,160 crore) during the first quarter of 2020-21 due to a significant fall in demand in the wake of the COVID-19 pandemic.
The decline in gold and silver imports has helped in narrowing the country's trade deficit, difference between imports and exports, to USD 9.12 billion during April-June 2020-21 against USD 45.96 billion in the year-ago period.