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Economic uncertainty unleashed by the Covid-19 pandemic is still not persuading India’s gold hoarding lot to sell their household gold even in the midst of a surge in the price of the yellow metal, said gold traders in Zaveri Bazaar, the hub of gold trade in Mumbai, and South India, where gold is treasured.
Instead, most are going to gold loan companies to pledge their gold jewellery as the interest they pay against the loan is lesser than the loss in making charges they will have to bear if they sell it.
“We had expected that the price rise will compel the Indians to sell off household gold in this time of uncertainty. We had expected a sharp increase in old gold sales. But that is not happening.
It has been brought to our notice that certain individuals are receiving fraudulent emails, phone calls, and messages, etc, about job vacancies with Muthoot FinCorp and they are also being asked to deposit money in certain bank accounts.
Please be informed that such communications and practices are completely mala fide and sent with an intent to defraud the public and bring disrepute to the goodwill of our Company. Our Company does not ever demand any fee/money against recruitment nor for the application/interview process.
The public at large is hereby cautioned not to be misled by any such communications received through emails, message or any other communication mode.
Please contact us for further information about the genuineness or otherwise of such communications at: