Friday, 13th May 2005 (3488 views)

The Indian government is to sell its surplus stocks of gold and silver.

According to the government it currently has five tonnes of surplus gold lying in its mints.

The minister of state for finance, S Palanimanickam, explained that the amount of the metal that will be sold would depend on bullion market demand.

In addition, around 1,670 metric tonnes of silver are also lying in Indian government mints.

A special committee was set up in April to help boost gold trading in India.

 

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