Menu JTA Search

Israel Considers Lifting Restrictions on Private Trading in Gold

A recommendation to end restrictions on trading in gold has been made to the Treasury by Zvi Dinstein, controller of foreign currency, it was reported today. The proposal, which is expected to be adopted soon, is another in a series of moves aimed at relaxing currency controls.

Under present regulations, Israelis may have gold in their possession but are not permitted to trade the commodity. The new recommendation would permit Israelis to place gold in banks against deposit certificates and to sell unrestrictedly at prices to be governed by supply and demand.

Restrictions were recently lifted with regard to foreign securities, which can now be sold via banks along the same lines. The Treasury is also considering eliminating the requirement for the licensing of certain imports. These will include food and raw materials now classified according to country of origin.

NEXT STORY