Chidambaram urges people not to buy so much gold

Union Finance Minister P Chidambaram has urged people not to reduce their demand for gold as heavy imports of this precious metal is one of the biggest contributors to the country’s soaring current account deficit (CAD). In a TV interview, Mr. Chidambaram said that while huge imports of oil, coal and pulses were necessary; imports of gold could be dispensed with. read more

Union Finance Minister P Chidambaram has urged people not to reduce their demand for gold as heavy imports of this precious metal is one of the biggest contributors to the country’s soaring current account deficit (CAD). In a TV interview, Mr. Chidambaram said that while huge imports of oil, coal and pulses were necessary; imports of gold could be dispensed with. read more

[via Stock Watch – Stock Specific News]

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