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.