Gold prices are currently experiencing immense pressure on Dollar strength with an expected future range of gold prices in US between $1,280 and $1,450. Further, the US gold prices are expected to affect gold prices in India as well.
Surendra Mehta, Secretary – India at Bullion & Jewellers Association said that the demand for gold in India may increase after march as auspicious days like Akshay Tritiya are approaching. Mehta said that there will be positive trend with regards to gold as mandatory hallmarking will re-establish consumer’s confidence in the precious metal.
IN 2013, 20:80 gold scheme was launched under which the traders were required to export 20% of the imported gold. The scheme, however was scrapped in 2014.