Commodity News

The most affected sectors were gems and jewellery, transport and automobiles where employment has declined by 8.58 per cent, 4.03 per cent and 2.42 per cent, respectively during the period (October to December 2008).

Commodity markets regulator, Forward Markets Commission on Friday said they expect the government to withdraw commodity transactions tax in the next budget.

Because India is all set to import around 600 tonnes of gold in this year and China, as it claimed, is on a gold buying spree with already stocking up a huge quantity of the metal. Again, it has further plans of buying another $80 billion worth of gold this year.