Customs seize gold worth Rs 1.36 cr at Mangaluru airport

Mangaluru, Jun 15 (PTI) Customs officials at the Mangaluru International Airport (MIA) have seized 2.468 kg of gold worth Rs 1.36 crore from two passengers in separate incidents on Tuesday. A customs release said here on Wednesday that the two separate smuggling attempt cases involved passengers who arrived here from Dubai. In the first case,… Continue reading Customs seize gold worth Rs 1.36 cr at Mangaluru airport

India’s May gold imports surge multifold as prices correct before key festival

MUMBAI, June 6 (Reuters) – India’s gold imports in May jumped 677% from a year ago to the highest level in a year as correction in prices just before a key festival and wedding season boosted retail jewellery purchases, a government source said on Monday. Higher imports by the world’s second-biggest bullion consumer could support… Continue reading India’s May gold imports surge multifold as prices correct before key festival

Asia Gold Discounts widen in India as prices rise, wedding demand cools

June 3 (Reuters) – Gold discounts widened in India this week as demand faltered due to a rise in prices and a winding up of wedding season, while consumers remained wary of purchasing bullion in top consumer China amid a gradual relaxing of coronavirus restrictions. Indian dealers offered a discount of up to $9 an… Continue reading Asia Gold Discounts widen in India as prices rise, wedding demand cools

RBI issues norms for import of gold by qualified jewellers

Mumbai, May 25 (PTI) The RBI on Wednesday came up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. In addition to agencies nominated by the RBI and by DGFT, Qualified Jewellers (QJ) as approved by International Financial Services Centers… Continue reading RBI issues norms for import of gold by qualified jewellers

India’s gold demand could jump in festive season, pent-up purchases – WGC

MUMBAI, Oct 28 (Reuters) – India’s gold demand could strengthen significantly in the fourth quarter, the World Gold Council (WGC) said on Thursday, with a drop in global prices and the release of pent-up demand expected to lift jewellery sales during the peak festive season. Higher demand from the world’s second-biggest gold consumer could help… Continue reading India’s gold demand could jump in festive season, pent-up purchases – WGC

Nearly 28 pc urban Indians plan to spend on gold this Diwali as COVID effects wane: Survey

New Delhi, September 22 (PTI): Nearly 28 per cent of urban Indians are planning to spend on gold in the next three months, signalling a renewed appetite for the yellow metal amid the waning effects of second wave of COVID-19, as per a survey. The gems and jewellery industry, which was impacted by the COVID-induced… Continue reading Nearly 28 pc urban Indians plan to spend on gold this Diwali as COVID effects wane: Survey

India’s August gold imports nearly double as prices dip ahead of festivals

Mumbai, September 6 (Reuters): India’s gold imports in August nearly doubled from a year earlier to the highest in five months on strong demand and as weaker prices prompted jewellers to ramp up purchases for the festive season, a government source said. Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices… Continue reading India’s August gold imports nearly double as prices dip ahead of festivals

India gold activity slows as dealers close the books

(Reuters) – Top Asian hubs saw moderate physical gold buying this week, with activity in India muted as the country’s financial year was coming to a close, while jewellers kept a wary eye on rising coronavirus cases. “Bullion dealers and jewellers are avoiding buying due to the year end. They’re busy with closing the books,”… Continue reading India gold activity slows as dealers close the books

Gold falls Rs 148, silver declines Rs 886

New Delhi, Feb 24 (PTI) Gold prices on Wednesday fell Rs 148 to Rs 46,307 per 10 grams in the national capital, due to overnight selling in global prices and rupee appreciation, according to HDFC Securities. The precious metal had closed at Rs 46,455 per 10 grams in the previous session. Silver also declined Rs… Continue reading Gold falls Rs 148, silver declines Rs 886

Price drop boosts India buying, lifts premiums to eight-month high

(Reuters): Physical gold demand in India this week surged as local prices dropped to their lowest levels since June last year, with buying expected to pick up in other Asian centres after the Chinese Lunar New Year holiday week. In India, dealers were charging a premium of up to $7 an ounce over official domestic… Continue reading Price drop boosts India buying, lifts premiums to eight-month high