India reported record gold imports in August after the country slashed its import duty the month before. India ranks as the world’s second-largest gold consumer behind China.

India reported record gold imports in dollar terms, totaling $10 billion in August. It was over a three-fold increase over the previous month. The World Gold Council estimates the country imported 140 tons of gold, tripling July’s total.

https://www.zerohedge.com/precious-metals/india-reports-record-gold-imports-august