According to import data, India has imported 155 tonnes of gold in first two months of April and May. India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.

Gold is considered as a good investment option and it is being assumed that in coming days price for this precious metal would shoot up and investors will have better returns. However, contrary to heavy gold import, the retail sector has not registered good sale of jewellery.

According to a gold importer, Lalit Agarwal, the surge in demand for gold was due to the festival season. Another major factor that contributed to investment in gold is the fall in prices in last three to four years. It is being estimated that during this financial year, India will import around 900 to 1000 tonnes of gold.

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