Gold Purchases by India Jump Ahead of One Million Weddings

March 29 (Bloomberg) -- Gold imports by India, the world’s biggest consumer, jumped this month as jewelers stockpiled the metal to meet wedding-season demand, a trade group said.

Purchases until March 25 were between 28 tons and 30 tons, up from 4.8 tons a year earlier, Suresh Hundia, president of the Bombay Bullion Association said, citing preliminary data.

Demand for gold jewelry may remain strong in the next two months, fueled by as many as one million marriages planned for April and May, he said.

To contact the reporter on this story: Thomas Kutty Abraham at tabraham4@bloomberg.net