The Government of India has banned the export of gold jewelry (plain and studded), medallions & coins of above 220-carats, Rough & Polished reports.
According to the new amendment in the Foreign Trade Policy-2015-20, exports of gold jewellery, including partly processed jewellery and articles including medallions and coins, whether plain or studded, which weigh between 8-22 carats may still be exported.
Earlier this month, it was reported that global gold demand slipped 10% to 953 tons in the second quarter of 2017 over a significant downturn in Exchange Traded Funds’ inflows. Investment demands fell 34% to 297 tons between April and June.
