Maiden IBJA-LBMA Gold Seminar in Mumbai concludes successfully

The first ever IBJA-LBMA Gold Seminar - Bridging the divide - held on August 10, 2016 at JW Marriot in Mumbai, concluded on a successful note. Ruth Crowell, Chief Executive Officer, London Bullion Market Association (LBMA) along-with Mohit Kamboj, National President, India Bullion & Jewellers Association (IBJA), Prithviraj Kothari, Managing Director, Riddi Siddhi Bullions Limited (RSBL) and Rajesh Khosla, Managing Director, MMTC PAMP inaugurated the function.

In his opening remarks, Mohit Kamboj highlighted the current state of the bullion industry and stressed upon to initiate joint efforts by national and international bullion bodies to take the industry to the next level.

He said gold prices in India between 2013 and 2015 had been quoting at a premium to the landed cost and over the last six months they were at a discount to the international price. These variations were not reflected in the London Bullion Market Association’s mechanism to fix the price of gold.