Commodity Trade Mantra

Posts Tagged ‘Gold Jewelers’

How, What & Why India needs to do to Improvise it's Gold Market

The gold market in India is in a mess. Smuggling continues big time. Seizure of smuggled-in-gold barely accounts for 3% of volumes each year. Almost 90% of the gold in the markets is adulterated. So, can the situation be remedied? Yes, if there is political will, and the willingness to take a fresh look at gold markets. Here are the things that the government should do. Immediately.

Can Indians Stop Tradition of Hoarding & Gifting Gold? Gold Target after Cash Ban

The latest moves in India are designed to force the gold trade onto the banking system in partnership with the central government to better track and tax the industry. The cashless agenda of control laid bare. There shall be no economic activity outside of State control. Cartels that play nice will be rewarded with more market share. Can Indians give up their tradition of storing & gifting gold?

Surge in Smuggled Gold Hits Indian Gold Refiners, Gold Jewelers & Banks

Smuggled gold could account for over a third of demand this year in India – the world’s second-biggest buyer of gold – potentially costing the government over $1 billion in lost revenue. Gold refiners have less than a 1% margin. If smugglers offer 4 or 5% discounts, they have no choice but to close operations. All 32 refineries in the country have stopped buying dore until market conditions normalize.

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