No need for curbs on gold to bring down CAD, says WGC's Somasundaram PR

Demand for gold remains low, and talks on gold spot exchanges may pick up soon, he said

The burgeoning current account deficit (CAD) has led to reports that the government may again restrict gold imports. 

However, Somasundaram PR, managing director, India of World Gold Council, has a different view. While speaking at an Assocham event, Somasundaram tells Subhayan Chakraborty that demand for gold remains low, and talks on gold spot exchanges may pick up soon. Edited excerpts:

The government is looking to restrict gold imports and may impose tariffs soon to reduce the CAD. How is the industry reacting to this?
 

There is frankly no need for restrictions in the gold segment as the market is already very