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    gold investing

    Jewellers End Strike in India, but Gold Sales Still Down

    Charlotte McLeod
    Apr. 10, 2012 11:43AM PST
    Precious Metals

    Reuters reported that India’s daily gold sales are 80 percent less than they were a year ago even though jewellers have ended their strike over taxes.

    Reuters reported that India’s daily gold sales are 80 percent less than they were a year ago even though jewellers have ended their strike over taxes.

    As quoted in the market news:

    Normally during this peak wedding and festival season, around 7 tonnes of gold would be sold every day to jewellers and stocks would be about 10-12 tonnes accumulated in the past 3-4 weeks.

    “We have delivered pending orders, but there is no work today as gold prices have gone up,” said Kumar Jain, vice-president of the Mumbai Jewellers Association.

    Click here to read the full Reuters report.

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