India, the largest importer and consumer of gold trimmed its gold imports to 131 tonne in the Apr-Jun quarter of 2012, down 170 tonne or a 57.48% decrease from the same period last year, a World Gold Council’s (WGC) second quarter 2012 report said.
The near 60% decline is the largest year-on-year decline in gold imports in the last nine quarters. The fall can be attributed to a higher gold prices and declining consumer demand for gold jewellery and investment gold………………………………………..Full Article: Source