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FM Urges Indians To Refrain From Buying Gold

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According to the Finance Minister P.Chidambaram, gold imports had averaged $135 million/day until May 20, after which it fell to $36 million/day. “No import of gold would dramatically improve the situation and we urge Indians to refrain from buying gold. We revised import duties recently and will see if there is any need to revisit duty on gold imports,” he contended.