Gold scarcity takes shine off Deepavali

Gold scarcity takes shine off Deepavali

“In India’s biggest bullion market, Mumbai’s Zaveri Bazaar, gold dealers are busy – not filling orders for customers, but busy avoiding phone calls because they don’t have any gold to sell.

Battling a huge trade deficit and a weak currency, the government has taken various steps this year to make it harder and more expensive for Indians to get hold of gold, the biggest item on the country’s import bill after oil.

 Hardly any gold came in for two months until mid-September, and the industry is still feeling the pinch, especially now the festival season has started, a peak period for demand. “ Tuesday October 22, 2013 http://www.thestar.com.my Read More

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