In tune with India’s penchant for yellow metal gold, the country’s bullion reserves at a whopping 607 tonnes is far ahead of Pakistan. Notably, India is the single largest consumer of gold and has the 11th largest gold reserve, with the current holding pegged at 607 tonnes, as per the latest report by the World […]
The government of India has reaped in a bonanza of raising thousands of crores of rupees in liquid float in an added benefit of the gold monetisation scheme, which seeks to check import of the yellow metal into India and help prop up the country’s current account deficit. The state-run trading firm MMTC has auctioned […]
Saudi Arabian Mining Co. wants to more than double gold output within five years. Maaden, as the state-backed company is known, plans to boost gold output from about 415,000 ounces this year to one million by 2025, Chief Executive Officer Darren Davis said in an interview. This would catapult the oil-rich kingdom from a marginal […]
Mining production globally registered its fourth consecutive contraction, falling 7.5 per cent year-on-year in February compared to a 3.3 per cent fall the previous month, Statistics South Africa said in a report. This registers as the largest fall in production since March 2016 when output fell 17.4 per cent year-on-year. Diamonds, iron ore and gold […]
China is on a bullion-buying spree. The world’s second-largest economy expanded its gold reserves for the fourth straight month, adding to optimism that central banks globally will continue to build holdings. The People’s Bank of China raised reserves to 60.62 million ounces in March from 60.26 million a month earlier, according to data on its […]
By Ritwik Sinha Gold prices, which have consistently risen in both international and domestic markets in recent months, are likely to firm up further in the near run, said Professor Arvind Sahay, Chairperson of the Ahmedabad-based India Gold Policy Centre. The trend is unlikely to taper off anytime soon as uncertainties in international trade have […]
Global commodity prices staged a comeback this past week after the dollar failed to hold onto recent gains and rising stock markets helped to drive renewed risk appetite. The weaker dollar was led by the British pound which is headed for its best week since January following a week of Brexit drama in Parliament. The […]
The upcoming Federal Reserve Open Markets Committee (FOMC) meeting on 20 March, 2019 is expected to confirm market expectations that the Federal Reserve (Fed) will remain on hold for the rest of the year. This, in turn, will likely influence gold’s performance. Our historical analysis shows that when the Fed has shifted from a tightening […]
Pakistan’s military is taking a key role in the development of one of the world’s biggest untapped copper and gold deposits, which is currently stalled by a multi-billion dollar legal wrangle with foreign mining firms, multiple sources familiar with the situation revealed to Reuters News Agency. The Reko Diq mine has become a test case […]
The Federation of Indian Exports Organisation (FIEO), India’s apex export promotion body has asked for an expansion of the list of items that will enjoy export incentives through e-commerce. Considering the exponential growth potential in cross border e-commerce transaction in coming years, the association has particularly pressed for inclusion of jewellery products in the list […]