India gold imports 30T in April, up 25pct y/y - trade

A salesman arranges gold necklaces at a jewellery showroom in Chennai in this April 2009 file photo. India imported about 30 tonnes of gold in April, up 25 percent from the same month last year, helped by a drop in prices and festival demand, the head of a trade body said on Monday.

MUMBAI (Reuters) - India imported about 30 tonnes of gold in April, up 25 percent from the same month last year, helped by a drop in prices and festival demand, the head of a trade body said on Monday.

"Prices were a bit lower, so there was buying," said Suresh Hundia, president of the Bombay Bullion Association. "If prices fall below 14,000 rupees ($282) per 10 grams, buying will increase this month."

Prices were at 14,314 rupees per 10 grams at 0950 GMT on Monday, down from an all-time high of 16,040 rupees on Feb. 20.

Hundia revised upwards March imports to 0.8 tonnes from nil reported earlier and for February to 1.3 tonnes from 0.8 tonnes.

Imports in 2008 had fallen sharply to 396 tonnes from 759 tonnes the previous year, data from the trade body showed, mainly due to high prices.