The reference to schemes is to the incentives most jewellers had introduced to encourage purchases. For instance, many have begun one under which the jeweller deposits 75 per cent of the first month’s payment after an investor deposits a fixed amount for nine continuous months.
LOSING SHEEN
• Buying of gold jewellery over Rs 50,000 now requires a jeweller to register know-your-customer details under a recent extension of the Prevention of Money Laundering Act• The global price fell this week to $1,287 an ounce, the lowest in a month, after the US Federal Reserve affirmed a scheduled upward revision in its policy rate this December• Gold was $1,294 an oz a month before, on tension, between North Korea and America
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