Is the rising gold imports in April 2021 a worry?

One thing is certain that rising gold imports are threatening the current account deficit to widen this year. In April 2021, Gold imports shot up to $6.3 billion on domestic demand compared to $2.83 billion in Apr-20. Gold imports played a big role in trade deficit widening to $15.1 billion in April. Silver imports fell but they are too small. The only hope is that COVID dampens demand for gold, which would at least help the CAD remain subdued.