Physical gold market awaits fresh import guidelines

[Abhishek Sharma]

Indian gold rose half a percent on Wednesday to extend gains for another session but the physical market remained muted, awaiting fresh guidelines from the Reserve Bank of India (RBI) after restrictions were placed on consignment imports.To curb the widening current account deficit, India banned the import of gold on payment of margin basis, following up on a 50 percent import duty hike in January.

Source: Gold Tips