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Ban on gold import?
Posted on: 17/Nov/2016 5:43:39 PM
There have been rumors wide-spreading that the Prime Minister has banned import of gold to India. This has panicked all gold traders and jewelers.
There is uncertainty prevailing about the government’s next drastic move. Starting from March next year, it is said that there will be a ban on gold import, according to rumors spreading across the centre.
However, the All India Gems and Jewellery Trading Federation has refuted this information. As this is wedding season, gold traders are buying more of gold, says one of the officials from bullion and jewellery association.
Speaking about this, one of the senior government official said there is no such talks about gold import ban as of now. However, there are talks about banning online sale of gold.
Due to demonetization of rupee notes, the gold sale is largely hit. Especially, at village locations, there is drastic dip in sale of gold. In general, the need will be more at village. Due to all these reasons, there is decrease in price of gold.
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