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RBI curb on gold import likely to raise bullion prices

Posted on 08 May 2013

Even though gold is said to have entered a bearish phase there is no respite for Indian consumers. They may end up paying more for the yellow metal if the RBI’s recent move to restrict banks’ bullion imports becomes effective.
Jewellers feel that the directive that allows banks to import bullion only on a consignment basis to meet the genuine needs of jewellers will completely jeopardise the gold supply in the domestic market. It may even push up the prices, which will subsequently be passed on to the consumers………………………………………..Full Article: Source


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