MUMBAI (MINEWEB) -
Huge shortages of gold in the South as a result of the government's measures to curb gold imports, appear to have skewed the market in India, resulting in scanty sales across retailers in the region. The short supply of gold is also likely to lead to lower jewellery exports from the region.
India's four Southern states account for over 40% of the nation's overall gold demand.
Gold retailers in Coimbatore in Tamil Nadu and Thrissur and Kochi in Kerala are reportedly out of stock. With precious metal inventory down to low single digit numbers, these huge gold consuming cities have been facing gold supply constraints. ...