India's gold imports hit a record high of $10.06 billion in August, more than six times the gold India's central bank bought last year, data released by the Indian government show.

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Gold loan interest rate varies depending on the bank. Do note that many banks apply processing fee for releasing gold loan.

Ahead of the upcoming festive and wedding season, the yellow metal sees increase in demand and imports in India.

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India reported record gold imports totaling $10 billion in August. It was over a three-fold increase over the previous month.

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Imports jumped by 3.3 per cent to a record high of $64.36 billion, driven by a significant increase in the inbound shipments ...

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