Gold may get too hot to handle

KOCHI: The decision to raise  the import duties on gold came as a big blow to the traders as well as the common man. The market has started experiencing the variation in the rate soon after the presentation of the budget on Friday. According to manufacturers and merchants, the prices are expected to surge further. M V Jose, general manager, Alappat Jewellers said: “A hike of Rs 35 per gram has been witnessed by noon. R K Bhatt, manager, Bhima Jewellers, is of the opinion that a hike of 50 to 60 per cent can be witnessed soon. “The customs duty imposed on the standard gold will force the manufactures to hike the price. There is no alternative,” he said.  Shaibu Thomas, a staff at Tanishq, said that so far such a variation in gold prices has not come to his notice but he is sure that the difference can be seen by Saturday.