Gold prices to increase
Posted on: 26/Jul/2013 11:38:13 AM
With new regulations put in place by the Reserve Bank of India (RBI) on the import of gold, prices of the metal are likely to rise again.
‘Gold prices will definitely increase in the coming days because the new regulations mean there is going to be a fall in supply… We have seen the prices consolidating and beginning to rise slowly in recent weeks. This will add a spurt to the appreciation… The RBI’s new guidelines would hit business. This will hit our margins. This will hurt our volumes. The Central government is trying to squash this industry as if it was a bed bug’, say jewelers.
