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No Diwali glitter for gold; jewellery sales seen plunging 60pct

Posted on 01 November 2013

Despite demand, gold jewellery sales are likely to decline by up to 60 per cent this festive season due to stock crunch following restrictions on imports, according to industry experts.
“Demand is definitely there for gold jewellery and coins. However, we do not have enough stocks in the market to cater to the demand of this festive season as there were no import since the last 2-3 months,” Kumar Jain, Mumbai Jewellers Association Vice-President, told PTI…………………….Full Article: Source


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