COMMENTARY – Global economic turmoil playing havoc with precious metals

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­­­The turbulence in global economic dynamics is playing havoc with precious metals, with gold continuing to be under pressure with prices once again falling below the psychological $1,200 an ounce and silver all but collapsing, touching $14 an ounce. A firmer US dollar, higher US bond yields and importantly a rising US stock market is […]

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Data – High domestic demand, weak global price see surge in India’s gold imports in December

India’s gold imports rose by 71.52 per cent to $3.39 billion in December because of weak global prices and higher domestic demand, according to commerce ministry data. Gold imports in December 2016 were at $1.97 billion. Data also showed that silver imports too rose by 106 per cent to $197.26 million last month as against […]

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India announces import tariff changes to certain commodities

India’s finance ministry said it was amending import tariff on commodities such as palm oil, gold and areca nuts as mentioned in the Customs Act 1962.  In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted namely: – TABLE-1 Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value (US $Per Metric […]

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