“The All India Gem & Jewellery Trade Federation, representing about 300 000 gold manufacturers and retailers, was asking members to offer incentives to lure holders to recycle their old jewellery, chairman Haresh Soni said yesterday. Using more scrap and hoarded metal may further reduce Indian imports of gold, which are forecast to tumble 22 percent in the second half.  Jewellers have suspended sales of coins and bars to retail buyers until the current account deficit has stabilised.  On Tuesday Finance Minister Palaniappan Chidambaram appealed to Indians to moderate their demand for the metal, while ruling out a complete ban on imports.”

http://www.iol.co.za/business/international/indians-urged-to-recycle-stashed-gold-1.1549817

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