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Gold imports lowest since 2003; govt may tighten norms for buyers in India

This year India will implement its own gold standards

gold, jewellery

With the government giving a push to digital transactions following demonetisation and discouraging the purchase of assets using cash, some trends expected to change the gold business have been identified. The immediate impact of demonetisation has been on gold demand, which went up sharply after the withdrawal of the 500- and 1000-rupee notes on November 8. While the demand for gold increased immediately after demonetisation, it fell sharply in December.  Now for buying jewellery or bullion worth more than Rs 2 lakh, purchasers have to state their permanent account number ...