gen. secretary of the bullion and jewellers association - yogesh singhal‏

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Saima, Star Live 24
Tuesday, March 11, 2014
Published On: 16:35:52 PM

New Delhi : Extending losses for the second session, gold prices fell by Rs 100 to Rs 30,730 per ten gram in the national capital Monday on sustained selling by stockists influenced by a weakening global trend.Silver also declined by Rs 470 to Rs 45,930 per kg on lack of buying support from jewelery makers and industrial units.On the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 100 each to Rs 30,730 and Rs 30,530 per ten gram, respectively. It had lost Rs 230 in the previous session. Sovereign traded lower by the same margin to Rs 25,300 per piece of eight gram.

Silver ready dropped by Rs 470 to Rs 45,930 per kg and weekly-based delivery by Rs 520 to Rs 45,680 per kg. The white metal had lost Rs 930 in last trade.

Silver coins also plunged by Rs 1,000 to Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

So , we spoke to Mr. Yogesh Singhal , Gen. Secretary of The Bullion and Jewellers Association , regarding the hike and fall of silver and gold  prices.

So , here are a few pieces of his convos. with us -

Ques1.- What are the policies and strategies according to you that the govt. should keep in mind to establish this jewellery industry ?

Ans- According to Mr. Yogesh Singhal , there are two points that the govt. should change -

a) Export should be encouraged in the country.

b) Ban on Import should be relieved and import must be easy .

Ques2 - What is the main reason for this instant and sudden price hike and fall in the market?

Ans- The answer given by Mr. Singhal was that it is all due the the MULTI COMMODITY EXCHANGE,MCX in the market.

The answers given given by Mr. Singhal were quite important for the viewers to know.


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