Local gold jewelery business in India is passing through difficult times, stated All India Gems and Jewelery Trade Federation (GJF). The domestic players in the country are seen facing tough competition from Indonesian exporters.
India Ratings and Research (Ind-Ra) has reiterated its negative outlook on gold for FY ’16. According to latest gold price forecast report released by Ind-Ra, the movement in gold prices, on either side, will be largely dependent on interest rate hike decision by the US Fed.
In an attempt to take early advantage of the proposed gold monetization scheme, Muthoot Exim-the precious metals arm of Muthoot Fincorp, has decided to set up gold recycling centers across the country.