FM urges people to resist their temptation for gold

by Paul Joseph on June 14, 2013 · 0 comments

Union Finance Minister P Chidambaram on Thursday reiterated his appeal to resist the temptation to purchase gold, adding that it would help the country rein in widening current account deficit (CAD). Mr. Chidambaram urged people to stop buying gold for at least a year as CAD, the difference between imports and exports, is at a record high level. Speaking on the topic, he said, “”I once again appeal to everyone to resist the temptation to buy gold. If for one year there are no gold imports, it will change the current account deficit story of the country.” read more

[via Stock Watch – Stock Specific News]

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