The government has retained 10% duty on import of the yellow metal.
Gold has held up better than many expected.
India Inc closed FY15 on a positive note.
Intermittent storm in the first week of March hit the flowers and emerging buds.
Gold import this financial year is estimated at 945 tonnes.
In UP, potato prices have moved marginally up so far this month.
The gold market has remained under pressure.
150,000 people are being rendered jobless.
Traders have used this as an opportunity to stock up silver.
Higher local output estimated to depress cross-border sales
This time, RBI can cut rates to reflect the improved fundamentals and to further shrink the arbitrage window.
In the past two years, investors in gold have lost money.
In 2013, the fall in international gold prices was 28 per cent.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
The rouble has been falling steadily since early November and collapsed earlier this month following a spectacular decline in the price of crude oil to five-year lows.
The Russian currency depreciated by 24 per cent in the past month to trade at 56.54 to the dollar at present, a sharp recovery after hitting a low of 68 in early December.
The World Gold Council, which represents the mining industry, puts India's demand between 850 and 950 tonnes in 2014.
Import in the first nine months of the current calendar year fell 20 per cent to 525 tonnes from 658 tonnes in the year-ago period.
This year, India bought 27.7% of the gold exported by Switzerland; in Jan, this was only 15%.
Crude oil's long price slide might be ending, feel some experts. Last Friday, the price of Brent crude, seen as a benchmark for what India uses, saw a low of $75.3 a barrel - it is now trading around $79. The fall has been nearly a third from its high seen in June, only five months earlier.
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