India: Local Dealers Under Pressure

Slight improvement in trading, with more foreignbuyers in Mumbai for Bharat Diamond Week (Oct. 8 to 10). Local dealers underpressure due to weak rupee (-14% since beginning of year to INR 74.27/$1 onOct. 10). Smaller manufacturers closing factories early for Diwali as currency decline,bank caution and sluggish demand lead to tight liquidity. Some cutters also atrisk after loaning to Surat textile company involved in $70 million bankruptcy.Jewelry sales improving ahead of Diwali festival, which begins Nov. 7.

Round Recent News Uranium volatility after Russia's US export restrictions November 25, 2024 / www.canadianminingreport.com Gold stocks rebound on metal bounce and equity rise November 25, 2024 / www.canadianminingreport.com Crypto market size continues to catch up with gold November 18, 2024 / www.canadianminingreport.com Crypto stealing some of gold's thunder November 18, 2024 / www.canadianminingreport.com Gold stocks drop on metal price decline November 11, 2024 / www.canadianminingreport.com See all > × Get Listed Get Listed × Login E-Mail Address Password Remember Me Login Forgot Your Password? Register Share to Youtube Share to Facebook Share to Linkedin Share to Twitter Share to Tiktok