The Reserve Bank of India (RBI) told rural regional banks on Tuesday they could no longer provide loans against gold jewellery and coinsβthe latest move to discourage gold buying as the government seeks to reduce a record current account deficit.
Gold imports into India, the worldβs biggest gold buyer, hit a record 162 tonnes in May as global prices tumbled and buyers stocked up. Rural communities are particularly hungry for gold as an investment, given a lack of banking facilities outside towns.
Since May, the government has hiked the import duty on gold to 8%, and the RBI has introduced constraints that force Indians to use cash to buy gold, with purchases mostly limited to jewellery.
Rural areas account for 60% of demand for gold, which is Indiaβs second-biggest import cost after crude oil.
βThese measures might be seen as rather self-defeating,β Ross Norman, chief executive of bullion broker Sharps Pixley, said.
βItβs almost as if the finance ministry is waging war on the gold sector, which would suggest that they feel they have lost control of the economy to some extent. In that environment, you would want to own gold more than ever,β he added.
“Graduates often find that they also need to hone their practical skills in the workshop. At the same time, those immersed in learning their skills at the bench donβt get time to think about the transition into a business of their own.”
The first package, Setting Out, offers those wanting to make the transition from learning to business or a career in a jewellery or goldsmithing workshop full time. The Goldsmiths’ Centre will offer flexible access to shared studio space in building in central London and will provide designers with access to its Knowledge Programme that includes at least 20 days vocational training and/or professional development per year.
From January 2014 the Centreβs Making It programme of courses will launch, taught by goldsmiths and tailored to new goldsmiths. It is said to be “ideal if youβre already working in the industry and want to develop your skills or are just starting your career”.
Courses are offered in a range of formats including day-release for those working in the industry, evenings and weekends, and will range from diamond mounting,ratings of Electricity monitor so you can find the best energy monitor. silversmithing and engraving to enamelling and diamond setting,Find great deals on eBay for stainless steel bracelet Bracelet in Fashion Jewelry Bracelets. with more to be confirmed β giving designer-makers the skills they need to get to the next level.
Between January 13 to 18 2014 the Goldsmithsβ Centre will run its Getting Started course, a week of intensive, interactive workshops and seminars to help new starters get to grips with setting up business on their own,Stock your shoe store with our ladies shoes wholesale, or as part of a workshop.The Warehouse offers a tremendous selection of stainless steel bangle at great prices.
Areas covered by Getting Started include pricing strategy; making social media work for you; marketing and selling to galleries and specialist retailers, with applications for the course opening on October 14.
She said: βHaving studied at the University for the Creative Arts in Rochester I took the opportunity to move into shared studio space at the Goldsmithsβ Centre and enhance my skills through their Knowledge Programme.
“In 2012 I won the British Jewellers Associationβs competition to design a brooch for the Queen celebrating her Diamond Jubilee. She wore the brooch to church on Christmas Day β a real high point for me. I would never have won that competition without the skills I learnt here at the Goldsmithsβ Centre, and the exposure it has given me has resulted in new commissions and opportunities I feel much more equipped to fulfil.”
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