Trade tariffs take centerstage as world tries to emerge from COVID-19 crisis

The week’s biggest news was China’s Ministry of Commerce announcement that it will extend anti-dumping duties on imports of alloy-steel seamless pipes for high temperature and pressure from the United States and the European Union for another five years. Following an expiry review launched at the request of the domestic industry, the extension has taken […]

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India’s gold imports plunged 99.9% to three-decade low in April due to COVID-19 lockdown

India’s gold imports plunged 99.9 per cent year-on-year in April to their lowest in nearly three decades as air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus. The world’s second biggest consumer of the precious metal imported around 50 kilograms of gold in April, down from 110.18 […]

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India looks to reform agri sector as COVID-19 restrictions are eased

By the end of last week, Indian Prime Minister Narendra Modi deliberated on ways to reform the agriculture sector and strengthen micro, small and medium enterprises to make them more vibrant.  He also discussed ways to ensure greater access of farmers to institutional credit and freeing the agriculture sector of various restrictions with appropriate backing […]

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Jewellery demand in India fell 41% to 11-year low in Q1 2020 on higher gold prices, softer COVID-19 economy – WGC

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Jewellery demand in India fell 41% to an 11-year low of 73.9t as COVID-19 compounded the impact of higher domestic gold prices amid a depreciating currency and softer economic growth and the impact could be even more severe in the second quarter, the World Gold Council (WGC) said in its latest quarterly report. “Although the […]

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Agri-commodities stabilised past week, but oil prices remained low; metals still unsure

In comparison, the week gone by was relatively a decent for agricommodities. The U.S. corn and soybean growers did not necessarily get off to a fast start with planting this year, but good field conditions have allowed some growers to get an earlier start than usual, a huge relief after last year’s record delays. With […]

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World Gold Council plans promoting digital gold for Indian consumers

Faced with an unprecedented decline in demand, the World Gold Council (WGC) is planning to start consumer marketing of gold in India through digital channels. In a conference call with Business Standard, David Tait, chief executive officer (CEO), WGC, said, “There is a feeling of depression in the bullion industry due to a sharp decline in retail demand. The recovery did not […]

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