Gold rate today: Donald Trump coming to power is likely to heighten the Sino-US trade tensions, which would be positive for gold
The policy is aimed at promoting growth of the yellow metal industry and exports of jewellery
The industry should not be overregulated in the name of developing it or curbing black money
The domestic industry has demanded a cut in import duty on gold to 4% from the current 10%
Finance Minister Arun Jaitley has announced the formulation of a comprehensive gold policy to develop the yellow metal as an asset class
The government last week announced an array of steps to rein in CAD and the rupee
Sources said another reason is that the Watal report advocates less of regulatory restriction on the jewellery industry
The proposed policy is to address the issues of transparency in gold and jewellery retailing, hallmarking and financing against gold
Gold policy is working to convert the precious metal into a financial asset; unified national rate of gold on the cards
Banks want to participate in gold options, spot exchange
Aims to ensure higher level of transparency
The plans should be finalised by the end of March, said sources