Indian March Gold Imports Up Six Times

According to a report by the Economic Times, Indian gold imports in March surged to 27.7 tonnes as compared with only 4.8 tonnes a year ago,

Suresh Hundia, president of the Bombay Bullion Association (BBA) said on Wednesday. "Prices are down from the all-time highs we saw last year and that is why people are buying," Hundia told Reuters.

In 2009, the worst year in more than a decade for gold sales in India, gold imports were at 339.8 tonnes, down from 420 tonnes a year ago, data from the BBA showed.

The strengthening rupee and the relative lack of severity of the monsoon season helped the current figure.