The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. Gold is already trading well above its 5-year high. Not only has the U.S.-Iran conflict reached a boiling point, with Trump readying to deploy an additional 1,000 troops to the Middle […]
India’s vegetable oils import rose 26 per cent to 14.12 lakh tonnes last month on sharp jump in shipments of refined palm oil, the highest since May 2013, according to latest data from the Solvent Extractors’ Association of India (SEA). Imports of vegetable oils (edible and non-edible) stood at 11.19 lakh tonnes in July last […]
Prime Minister Narendra Modi made an emotional appeal to farmers to reduce use of chemical fertilisers and pesticides by 10-25% to save the soil. He invoked the sacrifices of freedom fighters and asked farmers to get blessings in saving ‘Mother Earth’ by reducing the chemicals used in agriculture. Pointing out that no one has the right to […]
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 […]
India’s industrial production growth slipped to a four-month low of 2 per cent in June, mainly due to poor performance of mining and manufacturing sectors, according to government data released. Factory output, as measured by the Index of Industrial Production (IIP), had expanded by 7 per cent in June 2018. The previous low in IIP […]
Average wholesale prices of onion in the country’s wholesale market at Lasalgaon have gone up to Rs 1,600 per quintal owing to high demand from other states. Arrivals this week touched around 22,000 quintals and minimum prices were Rs 700 per quintal while maximum prices were Rs 1,760 per quintal. Market committee officials said that […]
Billionaire Indian businessman Mukesh Ambani said that Saudi oil giant Aramco has agreed to take a 20 per cent stake in his Reliance Industries’ oil refinery and chemical business at an enterprise value of USD 75 billion. Ambani made the announcement at the company’s annual general meeting, and said this would be the biggest foreign […]
The government aims to cover this year as many as 10 crore farmers under the PM-Kisan scheme, wherein they will be given Rs 6,000 annually in three equal instalments, Agriculture Minister Narendra Singh Tomar said. Around 5.88 crore small farmers have so far received the first tranche of Rs 2,000 each under the Pradhan Mantri […]
Jewellery made from lab-grown diamonds is likely to capture over 2 per cent of India’s $14 billion worth of overall gems and jewellery exports to the US, the world’s largest consumer of the precious stones and metals, contributing nearly half of the world production. Exports to US, the largest market for Indian exporters is estimated at $280 […]
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 […]
