The centre has revived its intention to make hallmarking mandatory for gold jewellery and plans to notify the regulation in WTO in a week time, a top official was quoted in a Press Trust of India report. Bureau of Indian Standards (BIS) Director General Surina Rajan, however, assured the jewellery traders that the process would be […]
Gold prices hit a new high this week amid fall in Indian rupee and political tensions in Honk Kong. Gold prices surged high on account of high demand for safe-haven at physical markets and tracking global trends. On the Multi Commodity Exchange (MCX), the most-traded October contract of the yellow metal shot up to Rs 38,666 per […]
The Reserve Bank of India’s (RBI’s) strategy to add gold to forex reserves has started bearing fruits. The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling. According to the RBI’s forex reserves data, put out every week, its foreign currency reserves […]
India’s gold imports in July plunged 55% from a year ago to the lowest level in three years as a rally in local prices to a record high and a hike in import taxes curtailed demand, a government source said on Monday. Lower purchases by the world’s second biggest consumer of gold could cap gains […]
Chaired by the World Gold Council, the industry steering committee has released a blueprint for Gold Spot Exchange in India. The report is both wide ranging and inclusive, covering the vision of the industry committee for the future, combined with pragmatic guidance around successful implementation of the Gold Spot Exchange in India. A feasibility study […]
India’s gold demand in the April-June 2019 quarter saw an increase of 14 per cent on a year-on-year basis, but it might remain muted in the next two quarters. Among the reasons for a weak outlook are high domestic prices. The rates, already high in international markets, will increase further in India on account of the 2.5 […]
The 2019 Central Bank Gold Reserves (CBGR) survey points to continued robust central bank demand for gold in the short and medium term. A good 11 per cent of emerging market and developing economy (EMDE) central banks surveyed say they intend to increase their gold reserves over the next 12 months. This is similar to […]
The government has altered the rule for import duty valuation on import of gold and silver. A customs notification in this regard was issued last week, a day after presentation of the Union Budget. Earlier, the duty was based on tariff value. This has been changed to the actual value at which the selling bank […]
In its mid-year 2019 gold outlook released today, World Gold Council has said that over the next six to twelve months, financial market uncertainty and accommodative monetary policy will likely support gold investment demand . “Price momentum and positioning may fuel rallies and create pullbacks, as investors continuously reassess their expectations based on new information, […]
Amid political uncertainty, US-China trade war, the mid-east crisis, and other global slowdown signs, global central banks turned big buyers in the month of June. Poland turned out to be the biggest buyer last month, with the Polish Central Bank buying 95 tonnes, one of the highest monthly purchase in recent years. China purchased 10.3 […]
