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Tamil Nadu
Plea to control gold price
Special Correspondent
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Chamber moots a ban on online trading of gold
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RAJAPALAYAM: A plea to the Union Commerce Ministry to control the price of gold has been made by the Rajapalayam Chamber of Commerce and Industry.
In a memorandum submitted to the Union Commerce Minister, Kamalnath, the chamber secretary S. N. Rama Raju, pointed out that there had been a spurt in the price of gold which made the yellow metal unaffordable for the common man.
The poor, the memorandum said, found it difficult to buy even the minimum jewellery like ‘mangala sutra’ for weddings under current prices.
If this trend continued, the government would lose the confidence of common man, the statement cautioned.
The chamber mooted a ban on online trading of gold that led to an artificial demand.
It wanted the government to bar banks from doing business in gold. There should also be a ceiling on keeping stock of gold at all levels.
The chamber appealed to the government to take all steps to bring down the price of the yellow metal.
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