Friday, 14th May 2004 (2651 views)

Government changes in India are affecting the gold industry according to reports.

At present the bullion market is rather volatile, since variation in currency has occurred as a result of political uncertainty.

A local bullion dealer told Sify: "My only suggestion to the new Government is that they should allow re-export of gold."

He claimed rupee variation would continue to influence bullion prices, with gold down to R75 per 10 gram on Thursday.

"A coalition Government will certainly be industry-friendly, particularly for gems and jewellery sector. The Government should continue economic reforms further," Sanjay Kothari, Chairman of the Gems and Jewellery Export Promotion Council added.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.