The coming marriage and festival season is unlikely to give a boost to gold imports that are estimated to be only 4-5 tonnes this month, lower by 58 per cent from June.
"Gold imports during July will be only around 4-5 tonnes due to ruling high prices.
"There will be less demand leading to less imports, unless the prices come down", Bombay Bullion Association director Suresh Hundia told PTI.
Gold is ruling over Rs 14,990 per 10 grams level in the spot market and on leading commodity exchange MCX gold for August was trading at Rs 14,724 per 10 grams.
In the global markets the yellow metal was trading at $936 an ounce (28.34 grams).
According to the data provided by the Bombay Bullion Association, gold imports have fallen by almost 50 cent in June this year from July last year when it was around 24 tonnes.
During January-July 2009, gold imports are estimated at about 56.6 tonnes against 163 tonnes in the corresponding period of 2008.
Gold prices fell slightly today due to a fall in Chinese equity markets, which dropped by five per cent, boosting the dollar index, brokerage firm SMC Global's Rajesh Jain told PTI.
The firming dollar index acted negative for gold, he added.
However, the overall gold prices are still bullish and is getting its major support at $900 an ounce level, Jain said.
