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India's September gold imports fall 59% to four-month low - government source

FILE PHOTO: A salesman helps a customer (R) to select gold bangles at a jewelry showroom in Mumbai, India, May 21, 2015. REUTERS/Shailesh Andrade/File Photo

MUMBAI (Reuters) - India’s gold imports in September fell 59% from a year earlier to the lowest level in four months, a government source said on Tuesday, as a drop in prices from a record high failed to lure buyers, which were postponing purchases anticipating bigger drop.

The world’s second-biggest consumer of the precious metal imported around 11 tonnes of gold in September, down from 27 tonnes a year ago, the source said.

The source asked to remain anonymous since he is not authorised to speak to the media.

The silver imports in the month plunged 93% from a year ago to 20 tonnes, he said.

Reporting by Rajendra Jadhav and Aftab Ahmed; editing by Louise Heavens