Organised refiners' scrap gold collection share likely to double

Organised refineries' share of scrap gold collection may rise to 35-40% over the next four-five years, from 20% currently, spurred by recent measures by the government, UK-based precious metals consultancy Metals Focus said in a report. Recent policy announcements, especially the ones about a revamped gold monetisation scheme and banks being allowed to buy locally-refined India good deliver y standard bars, are likely to boost the gold refining sector.