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The gold price is expected to hike
Posted on: 03/Oct/2013 5:40:37 PM
With the hike in the import duty levied on gold, it has become a bigger non-essential import. The hike is expected to be up to 15% of the jewelry. This has been done with to focus to cut imports and manage with current deficit. This is also related to import and export volumes which are now expected by at least 20% of bullion import must be exported.
The pressure created to export gold is now helping the Indian Jewelers to trade in the overseas market. It is also expected to secure the domestic supplies. This attempt to boost export in the country may not be smooth.
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