Gold recovers over global cues

Gold recovers over global cues
Highlights

Gold recovers over global cues. If the proposal of the Indian Gems and Jewellery Federation (GJF) is accepted by the government, then it would be possible for any individual or organisation to have its gold jewellery melted into pure gold bar and after depositing the same into a bank earn handsome returns.

Hyderabad (NVS): If the proposal of the Indian Gems and Jewellery Federation (GJF) is accepted by the government, then it would be possible for any individual or organisation to have its gold jewellery melted into pure gold bar and after depositing the same into a bank earn handsome returns.

Meanwhile, the current month would witness the Valentine Day. This day, traditionally lovers offer gold jewellery or diamond studded gold ornaments to their loved one. Due to increase in the gold price following enhancement of import duty, the love-birds have been looking for cheaper gold jewellery. Trade sources have therefore, made a lot of variety of 14-18 carats gold jewellery and some diamond studded ornaments within the affordable range of Rs 2,500 to Rs 10,000. Of course, for those with bulging pockets, sky is the limit.
During the week both the precious metals recovered marginally following the reports that China has begun gold purchase in the new Lunar year. Further, there is also the news from US that it has added about 20 per cent jobs in the struggling employment market. Therefore, the speculators still continue to wait and watch the market trend .
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