RBI has announced the calendar for premature redemption of sovereign gold bond issued between May, 2017 and May, 2020. In all, the Reserve Bank of India will redeem 30 SGBs from October 11 and February 7, 2025. The redemption price will be announced by RBI based on the average gold price on the last three…
After a long wait, the gold industry has formed the much-needed Self-Regulatory Organisation to bridge trust deficit of both the regulators and consumers. The move comes when the Government has an import duty on gold to discourage smuggling. The industry was even finding it difficult to avail bank credits. World Gold Council played a key…
The leading associations of the gold industry have come together to form the much-awaited self-regulatory organisation, the Indian Association for Gold Excellence and Standards (IAGES). The SRO will have board members from the Indian Bullion and Jewellers’ Association, the All India Gems and Jewellery Council of India, and the Gem and Jewellery Export Promotion Council…
Gold prices drifted higher on Monday, aided by worries that the United States could be headed for a recession and rising bets that the Federal Reserve will likely need to start cutting interest rates aggressively. Spot gold rose 0.14% to $2,446.83 per ounce after falling 1% earlier in the session. U.S. gold futures rose 0.8%…
Gold and silver prices appreciated last week. MCX gold futures was up 1.7 per cent and MCX silver futures gained 1.4 per cent as they closed at ₹69,789 (per 10 gram) and ₹82,493 (per kg) respectively. MCX-Gold (₹69,789) Gold futures (October) bounced off the support at ₹68,000 recently. The chart shows that it faces a…
A decision regarding the issuance of Sovereign Gold Bonds during the current fiscal will be taken next month when the Finance Ministry and the Reserve Bank of India (RBI) will meet to discuss borrowing for the next six months, a senior Government official said on Thursday. Meanwhile, there are no plans as of now to halt…
For millennia, gold has captivated the human imagination. Its purity and enduring value have positioned its place not just as a piece of adornment, but also as an option for investment portfolios. Furthermore, its elegance and historical value help highlight its worth and suitability for different investment goals. Understanding the significance of gold purity and…
Domestic gold prices dropped by nearly five per cent on Tuesday after Finance Minister Nirmala Sitharaman announced a cut in the basic customs duty on gold, silver and platinum. Also read: Budget 2024: Duty cut to lower gold prices. How will it impact jewellery stocks? he reduction in customs duty on gold and other precious…
Bringing cheer to consumers, Finance Minister Nirmala Sitharaman has announced an import duty cut on gold, silver and platinum. The total duty has been revised down to 6 per cent from the earlier 15 per cent effective July 24. For platinum, it has been revised down to 6.4 per cent from the current 15.4 per…
Finance Minister Nirmala Sitharaman on Tuesday proposed a reduction in the basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent. Presenting Budget 2024-25, she announced the removal of basic customs duty on ferronickel, blister copper, while increasing it to 15 per cent from 10 per cent on…
