News Headline Summary

Indian gold loan companies seen higher today following comments from a panel on the Reserve Bank of India...

- There is a need to moderate gold import as the insatiable appetite for the yellow metal could jeopardise economic stability, a panel constituted by the RBI has said. Financial products designed to provide returns equivalent to that of the precious metal could divert investors from buying gold, it said.

Full article: http://economictimes.indiatimes.com/news/economy/foreign-trade/rbi-committee-wants-steps-to-cut-gold-import/articleshow/17866983.cms

Update details:

- Fox News also reports: An Indian central bank panel Wednesday suggested tax incentives for gold investors to deposit their holdings with banks and another round of higher duties on the import of the precious metal as part of a coherent strategy to reduce the nation's yawning current account gap.

Read more: http://www.foxbusiness.com/news/2013/01/02/india-panel-suggests-steps-to-check-gold-demand/#ixzz2GsjI8Jum

Print 04:00, 03 Jan 2013 - Asian News - Source: RANsquawk