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Friday, 5th February 2010 (1867 views)

New figures have revealed that Indian gold imports saw their biggest increase in three months during January.

According to the Indian Bullion Market Association, 37 tonnes of gold was imported during the month, compared with 27 tonnes for December and 30 in the previous month, the Business Standard reports.

The increase was attributed to jewellers flocking to the precious metal as its high price started to drop.

Gold has soared in popularity around the world as an investment vehicle thanks to its safe haven properties amid the economic downturn.

However, jewellery demand has not been as high in the last year.

"Price-sensitive consumers always plan their investments in the yellow metal when it looks attractive for them," a trader told the Business Standard.

Meanwhile, recent figures from the Australian bureau of statistics showed that the country's gold imports increased by 51 per cent in December compared with the previous month, Bloomberg reported.

 

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