High price and stricter restrictions imposed territorially to contain the spread ofCovidinfections have hurtgold demand. The import of gold in April fell by 50.7%, settling at 3.54 metric tonnes (MT) against 7.19MT in March, according to the data issued by the Ahmedabad Air Cargo Complex.
With demand taking a hit on retail counters,jewellershave reduced purchases. Moreover, the last fortnight of April saw a partial lockdown or self-imposed shutdowns which also affected retail demand.