Chart of the Day: India’s Shrinking Gold Imports

Gold imports fell in July to $ 1.07 billion, contracting year on year for the sixth month in a row. One of the largest importers of gold in the world, India uses most of it to meet the demand in the jewellery industry. The sustained contraction over the last six months, which began with the strike of jewellery sellers in February, has helped narrow the trade deficit for the country. It is now down to $ 7.76 billion in July this year, compared to $ 13 billion a year ago.

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Chart of the Day | The Hottest Months

The earth is getting hotter. Every month this year has set a record for the hottest month ever, since world temperature was tracked from 1880. So it was with June. The month – with temperature of 0.9 degree-Celsius above average, according to US agency Noaa – is the 14th in a row of hottest months ever.

A closer look shows the trend began well before the strong El Nino of 2015-16 took root. Consecutive record-breaking hot months began in April of 2014, only interrupted in July and November of that year. In 2015, only January and April were not the hottest among the 136 years on record by then.

2016 has not seen a break so far, continuing with the trend since May of 2015. El Nino is believed to contribute only 0.1 degree-Celsius to such spikes.

The following table shows the ranks, on a scale of 1- 137 for coldest-hottest year for a particular month for 2016 data, and 1-136 where 2015 is the latest available year.

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