During the current fiscal, 2020-21, very few non-coal mining leases were allotted. Compared with 43 blocks successfully auctioned in 2019-20, only six leases could be auctioned out so far in the current fiscal, data from the ministry of mines showed. Since the time mining allocation was made mandatory through the auction route in 2015, a […]
Although a rebound in the Indian economy is encouraging, the full and proper recovery of the economy still has a long way to go. Covid-19 vaccination rollout is positive, but the pace of the drive remains slow. India has vaccinated ten million-odd people in a month, but that is not even one per cent of […]
Platinum surged above $1,300 an ounce for the first time in more than six years on bets that a recovery in industrial demand and stricter emissions rules will tighten supply of the metal. In contrast, gold edged lower. Tougher pollution regulations requiring vehicle makers to use more platinum in catalytic converters are supporting prices. Platinum […]
The Group of 20 major economies need to focus on broad-based vaccine rollouts and consider all financing options for deeply distressed countries, including an allocation of International Monetary Fund Special Drawing Rights (SDRs), IMF’s chief economist Gita Gopinath said. She also called for additional for poor countries who could “barely spend during this pandemic” and […]
In the third part of his interview with indoasiancommodities.com Ed Moy, former director of the US Mint and currently the chief strategist for US fractional gold retailer Valaurum, tells Biman Mukherji how he believes that China’s economy may not have picked up as much as being projected because that is not yet reflected in gold consumption. […]
As we enter 2021, many mined commodity prices are riding high after recovering from a dramatic pandemic-induced slump in the first half of 2020. The new year, however, raises new questions. How will Chinese policy affect supply and demand in 2021? Will the growing rhetoric around decarbonisation be followed up with concerted global action? And […]
Global economists updated China’s economic outlook this week given the new COVID-19 situation and effects of policy support, and expect a sustainable and more balanced recovery this year. China’s economy is projected to grow by 8.1 percent this year, built on its effective pandemic containment measures and policy support, according to the latest International Monetary […]
Indian gold jewellery retailers will get a fillip to their trade over the long term following a reduction in customs duty on gold and silver in the budget, according to India Ratings and Research. The revenues for top gold retail jewellery players had declined by as much as 32% year-on-year in the first half of the […]
After declining in 2019, global gold production was adversely affected by the covid-19 pandemic during 2020, while the suspension of expansion works and contractions from mines nearing closure also exacerbated the decline. Overall output in 2020 was estimated to have declined by 5.2% to 108 million ounces, according to UK-based analytics company GlobalData. This year, however, […]
In her budget speech, India’s finance minister called upon Securities and Exchange Board of India (SEBI) to act as a regulator for the proposed exchange for spot gold. SEBI currently regulates the equities market along with commodity futures market. “In the budget of 2018-19, government had announced its intent to establish a system of regulated […]
