Gold imports gallop 179% to $3.8 billion

After recording decline, gold imports more than doubled to $3.80 billion in December, driven by dip in global prices. In December 2014, gold imports stood at $1.36 billion, according to Commerce Ministry data. The figure for December 2015 is the highest in the last three months. In August last year, it was $4.95 billion. The prices have been declining at global as well as domestic markets and higher import impacts the country’s current account deficit (CAD).