Gold and silver prices moderated last week. In dollar terms, gold was down 1 per cent and silver lost 2.6 per cent, as they closed at $2,029 and $22.6 per ounce, respectively. Similarly, on the MCX, gold futures depreciated 0.7 per cent and ended the week at ₹62,332 (per 10 gram), whereas silver futures slipped…
The Finance Ministry has raised import duties on gold and silver findings, coins of precious metals, and spent catalysts containing precious metals. This has been done to end tax advantage in importing gold and silver in findings form than in bar According to the Finance Ministry, import duty on gold and silver findings and coins…
The gem and jewellery industry hopes Finance Minister Nirmala Sitharaman heeds its demand to bring down the customs duty on gold, and provide incentives to boost exports. The All India Gem and Jewellery Domestic Council Chairman, Saiyam Mehra, said with rising gold rates, the PAN card transaction limit should be raised to Rs 5 lakh,…
MUMBAI India’s gold demand is expected to be subdued in the first quarter of 2024 due to lower jewellery sales, but annual demand is anticipated to rise as consumers adjust to higher prices, the World Gold Council (WGC) said on Wednesday. Higher purchases in the world’s second-biggest gold consumer could support prices which are trading…
China pipped India as the top gold consumer of the world in 2023 with Beijing’s demand for jewellery rising by 10 per cent and investment by 28 per cent. Releasing Gold Demand Trends for 2023 and Q4 2023, the World Gold Council (WGC), a body of gold producers, said China was the main engine of…
Sovereign Gold Bond, administered by the RBI, has turned out to be another preferred investment avenue rather than suppressing physical gold demand and keeping current account deficit under check by controlling imports. Also read:RBI allows TRQ holders to make advance payment for gold import via Gift city The Budget has more than doubled SGB issuance…
Precious metals returned a mixed performance last week. While gold appreciated 0.9 per cent to close at $2,036.6 per ounce, silver was down 0.4 per cent as it ended the week at $22.7 an ounce. On the MCX, gold futures gained 0.7 per cent to close the week at ₹62,562 (per 10 gram); silver futures…
The first month of the year 2024 turned out to be an uneventful one for precious metals. Both gold and silver witnessed range-bound price action in January. The strength in U.S. dollar and the recovery in the equity markets dented sentiment towards the precious metals. It was, however, positive to note that the Comex gold…
Unveiling its new showroom at Sydney, Malabar Gold & Diamonds has become the first Indian International jewellery brand to begin operations in Australia. The new showroom, which was in Harris Park within the Little India Precinct of Sydney, was inaugurated by renowned Australian Cricketer Brett Lee. The showroom marks Malabar Gold & Diamonds’ expansion into…
In the dynamic realm of the global economy, the year 2024 is poised to witness a nuanced interplay of external factors that will significantly influence the trajectory of precious metals. These factors, collectively paint a complex picture of how precious metals may fare in the upcoming year. Also read: Gold, silver end January on a…
