Demand for gold witnessed considerable improvement
Posted on: 23/Apr/2016 12:55:19 PM
The demand for gold witnessed considerable improvement during the week, mainly on account of more number of retailers withdrawing from strike and reopening their shops.
The jewellers in the country had been on a strike since the beginning of March, in protest against the introduction of sales tax on gold jewellery by the government. However, with the government reiterating that it will not revoke the tax soon, many jewellers have now started reopening their shops. This has led to improved gold demand among Indian customers.
The government said earlier this week that India`s gold imports in March slumped 80.5 percent from a year ago to USD 973 million
