Author : Uttam

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Uttam
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IndiaтАЩs jewellery industry is pushing for a major overhaul of the Gold Monetisation Scheme (GMS), arguing that the country is sitting on enormous idle gold reserves that could be converted into productive financial assets.

Uttam
Industry estimates suggest Indian households and institutions hold nearly 25,000 tonnes of gold, much of it lying unused in lockers and homes. At current prices,...
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Prime Minister Narendra ModiтАЩs appeal to avoid buying gold for a year triggered a sharp selloff in jewellery stocks such as Titan Company, Kalyan Jewellers and Senco Gold, with shares falling up to 9тАУ12% in recent trading.

Uttam
The concern is not only about jewellery demand, but also IndiaтАЩs broader economic situation: Since India imports most of its gold, higher oil + higher...