Gold jewellery sales pick up slowly after falling 80%
By GCRU Gold News on Monday, December 12 2016, 21:31 - Permalink
Gold sales have picked up by 40-50% this month as consumers are getting used to digital transactions to purchase the metal
"Gold sales have picked up by 40-50% beginning this month as consumers are getting used to NEFT, RTGS, online transaction, debit cards and credit cards for purchasing gold," said Sreedhar GV , chairman of All India Gems & Jewellery Trade Federation.
"The government has also made it clear that there will be no tax on gold if it is bought through accounted money. This has also brought back a level of confidence among consumers. As a trade body, we have urged all jewellers and customers to go cashless as the same is hassle free," said Sreedhar.