Friday, August 1, 2014

Gold premiums in relative check

...........In June, there was a widespread expectation of a cut in the Union Budget in the tariff on gold. From mid-June till Budget was presented on July 10, gold was even quoted at a discount to the cost. RBI had also, in May, permitted star trading houses to import gold, resulting in a steep increase in June inflows. In that month, 92 tonnes arrived in India officially. Importers were offering gold...............

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